Lotte to take stake in chemicals affiliate for $1.9B
October 11, 2018
Specialty Chemicals | Seoul, South Korea | Secondary Transaction
South Korean conglomerate Lotte has agreed to take a 23% stake in affiliate Lotte Chemical, according to Reuters. The 2.2 trillion won (about $1.9 billion) deal follows the release of the group's chairman, Shin Dong-Bin, from prison for his involvement in South Korean President Park Geun-Hye's corruption scandal in 2016.