Lotte Shopping, the listed South Korean department store operator, has put six department stores up for sale, reported Edaily.
The report cited industry sources as saying that Lotte has mandated Bank of America as the financial advisor for the sale and the Lotte is expecting a deal value of KRW 640bn (USD 538m).
The department stores for sale are Guro, Dobong, Suji in Gyeonggi, Iksan in Jeonbuk, and Sasang in Busan. According to the report, Lotte Shopping wants to sell the stores to a buyer and lease them back to keep using as its chains.
Source: Edaily (translated)
No related posts.
