Lotte, South KoreaÆs top department store chain, will purchase 4.7 million shares in the Indonesian discount retailer for cash. Its Singapore affiliate Lotte Shoppings Holding will buy the remaining 25% of the company following approval from the Indonesian government, according to a regulatory filing.
The deal follows Lotte's acquisition of a 49% stake in CTA Makro, a Chinese cash-and-carry supermarket venture, from SHV Holding in late 2007. Lotte paid Ç57.6 million $83.2 million for the company, which operates six supermarkets in Beijing and two in Tianjin...
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