Lotte Shopping wins Chinese retailer Times

Korean retail chain Lotte secures Chinese supermarket and discount store operator Times with an aggressive $629 million all-cash bid that includes a general offer to minority shareholders.

South Korean department store chain Lotte Shopping has emerged the winner in an auction for Chinese retailer Times with a bid that implies a total equity value of HK$4.9 billion $629 million.

Lotte has agreed to buy the 72.3% of Hong Kong-listed Times that is owned by its controlling shareholder, CS International, at a price of HK$5.575 per share in cash. Lotte will now make an offer to buy out the 27.7% held by minority shareholders at...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: lotte | retail | makro | finance | asia | korea | china

Print Edition

FinanceAsia Print Edition