Lotte Shopping Co., Ltd. intends to acquire Lotte Shopping Town Daegu.,Ltd and 10% stake in Lotte Properties Singapore Pte. Ltd. from Lotte Asset Development Co., Ltd. for KRW 28 billion.
December 23, 2020
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Lotte Shopping Co., Ltd. (KOSE:A023530) intends to acquire Lotte Shopping Town Daegu.,Ltd and 10% stake in Lotte Properties (Hanoi) Singapore Pte. Ltd. from Lotte Asset Development Co., Ltd. for KRW 28 billion on December 23, 2020. The transaction marks the sale of Shopping Mall business of Lotte Asset Development Co., Ltd. The transaction is expected to be completed on February 1, 2021.
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. intends to acquire Lotte Shopping Town Daegu.,Ltd and 10% stake in Lotte Properties Singapore Pte. Ltd. from Lotte Asset Development Co., Ltd. for KRW 28 billion.
LOTTE SHOPPING CO., LTD. 
