April 26, 2018 / 2:07 AM / 7 months ago

Lotte sells retailer operator in China to Wumei for $230 mln

SEOUL, April 26 (Reuters) - South Korea’s Lotte Shopping said on Thursday that it has agreed to sell one of its six operators of hypermarket and supermarket stores in China to Wumei Holdings for about 248.5 billion won ($230.2 million).

Last year, Lotte Shopping picked Goldman Sachs to manage the sale of its Lotte Mart stores in China, after most of them were shut down amid political tensions between the two countries. The retailer had aimed for the sale by the end of last year. ($1 = 1,079.5000 won) (Reporting by Hyunjoo Jin; Editing by Stephen Coates)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below