Lotte Property & Development announced on May 14 that it is moving forward with the sale of logistics centers currently under construction in Icheon and Anseong, Gyeonggi Province.
It is reported that Lotte Property & Development recently sent a Request for Proposal (RFP) to accounting firms and other parties in order to select a sales advisor for the transaction.
The assets up for sale are the Anseong CDC Logistics Center located in Hyeonmae-ri, Seoun-myeon, Anseong, and another logistics center in Daedae-ri, Daewol-myeon, Icheon. Construction of the Anseong CDC Logistics Center began in 2023 and is still ongoing, while construction of the Icheon logistics center, which started in 2022, has been completed after three years. The expected sale price is approximately 200 billion KRW.
Some observers view this sale as part of Lotte Group's broader efforts to secure liquidity. However, Lotte Property & Development maintains that this is a normal profit-generating business in line with its core operations and is not directly related to liquidity management.
A representative from Lotte Property & Development stated, "The sale of these logistics centers is a strategic decision aimed at efficient management of the company's assets and portfolio optimization," adding, "It is unrelated to group-level liquidity management."
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