Lotte seeking to raise KRW 100bn in financing acquisition for Buy The Way

Lotte group is seeking to raise KRW 100bn (USD 87m) to finance its acquisition of Buy The Way, the unlisted South Korean convenience store chain, reported Money Today.

The report, which cited financial sector sources, claimed that the unlisted South Korean conglomerate decided to raise KRW 100bn out of its total offer of KRW 275bn and commenced a process to select a financial advisor for the financing. The selection is expected to be revealed this week.

As reported, Lotte had signed on stock purchase agreement with a Hong Kong-based Unitas Capital to acquire Buy The Way in 26 January.

(Source: Money Today)

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