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Lotte Group reorganises

Profile Photo By: Steve Shellum
April 26, 2017

Lotte Group reorganises

Seoul, Korea – 26 April 2017 –
South Korea conglomerate Lotte Group plans to divide four key businesses valued at about US$12 billion into operating and holding units, slashing the number of cross shareholdings to 18 from 67 and allowing its chairman to tighten his grip on a hotels-to-retail conglomerate rocked by a years-long family feud and a corruption trial.

Lotte Confectionery Co. will absorb the investment companies created when the South Korean group’s shopping, food and beverage units are each split into operating and holding companies under a plan to be presented for shareholder approval on August … Read More

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