Lotte Chemical Sells 1 Million Shares of Lotte Mitsui Chemicals for 5 Billion KRW

[Asia Economy Reporter Kwon Jae-hee] Lotte Chemical announced on the 27th that it disposed of 1 million shares of its affiliate Lotte Mitsui Chemical for 5 billion KRW. After the disposal, the number of shares owned is 1 million, with a stake of 50%.

The company explained, "By participating in the paid-in capital reduction of Lotte Mitsui Chemical, Lotte Chemical's stake in Lotte Mitsui Chemical is acquired by Lotte Mitsui Chemical through a paid acquisition and then immediately canceled," adding, "The purpose of the disposal is to recover the investment capital."