Lotte Confectionery has agreed to buy ice cream maker Havmor in the biggest Korean acquisition to date of an Indian company. It could be the start of a big new M&A trend.
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.
The listing of Lotte Group’s retail, hospitality and entertainment business comes amid an intensified power struggle between the two sons of founder Shin Kyuk-ho.
The listing of Lotte's hotel unit may help dispel lingering questions about cross-shareholdings among the subsidiaries of Korea's family-owned conglomerates.
MBK was the preferred bidder, but after the stock price dipped and talks dragged on, Lotte Shopping swooped in as the strategic acquirer of Hi-Mart, Korea's largest electronics retailer.
Woori Bank is lining up a subordinated-debt issue, while Industrial Bank of Korea, GS Engineering & Construction, Lotte Shopping, KDB and Hong Leong Bank are waiting in the wings.