Lotte Confectionery Co., Ltd agreed to acquire a 96.5% stake in Lotte Kolson (Private) Limited from LOTTE Corporation (KOSE:A004990) for KRW 41.5 billion on September 7, 2018. Under the terms, Lotte Confectionery Co., Ltd will acquire 75.2 million shares of Lotte Kolson (Private Limited) and issue own shares as consideration to LOTTE Corporation. Post completion, LOTTE Corporation will cease to hold any stake in Lotte Kolson (Private) Limited.

The transaction was resolved by the Board of Directors of LOTTE Corporation on September 7, 2018 and is expected to close on December 20, 2018.