Lotte Shopping Co., Ltd. completed the acquisition of remaining 43.7% stake in Lotte Songdo Shopping Town Co., Ltd from from Lotte Station Building Co. Ltd., Lotte Asset Development Co.,Ltd and Lotte Incheon Development Co., Ltd.
May 26, 2019
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Lotte Shopping Co., Ltd. (KOSE:A023530) entered into an agreement to acquire remaining 43.7% stake in Lotte Songdo Shopping Town Co., Ltd from from Lotte Station Building Co. Ltd., Lotte Asset Development Co.,Ltd and Lotte Incheon Development Co., Ltd. for approximately KRW 150 billion on May 24, 2019. Under the terms, 2 million shares were acquired from Lotte Asset, 6.4 million shares were acquired from Lotte Station Building and 0.92 million shares were acquired from Lotte Incheon as a part of the consideration. The transaction is expected to be completed on May 27, 2019.
Lotte Shopping Co., Ltd. (KOSE:A023530) completed the acquisition of remaining 43.7% stake in Lotte Songdo Shopping Town Co., Ltd from from Lotte Station Building Co. Ltd., Lotte Asset Development Co.,Ltd and Lotte Incheon Development Co., Ltd. on May 27, 2019.
Lotte Shopping Co Ltd is a Korea-based company mainly engaged in the operation of department stores. The Company operates its business through six segments. The Department Store segment is involved of the installation and operation of department stores such as Lotte Depart Store. The Company operates its department stores within the domestic market and to overseas markets, including Vietnam, Russia, Indonesia and China. The Discount Store segment is involved of the installation and operation of discount stores. The Electronics Store segment is engaged in the sale of home appliances and computers and communication devices. The Super segment is engaged in the operation of supermarkets and the rental of real estate. The Home Shopping segment mainly engages in home shopping and e-commerce business through Internet shopping mall and mobile. The Other segment engages in the businesses including the sale of cosmetics, food and other consumer goods, the operation of movie theaters and others.
Lotte Shopping Co., Ltd. completed the acquisition of remaining 43.7% stake in Lotte Songdo Shopping Town Co., Ltd from from Lotte Station Building Co. Ltd., Lotte Asset Development Co.,Ltd and Lotte Incheon Development Co., Ltd.
LOTTE SHOPPING CO., LTD. 
