Lotte Shopping block sale marks end of family feud

Group founder’s elder son raises $341 million from selling part of his stake in retail flagship, marking his withdrawal from a bitter years-long power struggle with his brother.

Lotte Shopping block sale marks end of family feud

A bitter, years-long power struggle that has torn apart the family behind Korean chaebol Lotte Group is over, after the elder son of group founder Shin Kyuk-ho waved the white flag by selling part of his stake in retail flagship Lotte Shopping.

Sources familiar with the situation said Shin Dong-joo sold 5.5% of the Seoul-listed shopping group, representing more than 40% of his personal stake, in a secondary market block trade after markets closed...

To continue reading, please login or register for free

Click for more on: lotte | lotte shopping | block | korea | morgan stanley | chaebol | consumer

Print Edition

FinanceAsia Print Edition

CONFERENCES