Lotte Chemical "Participates in Preliminary Bidding for PI Advanced Materials Acquisition"

[Asia Economy Reporter Oh Hyung-gil] Lotte Chemical is considering the acquisition of PI Advanced Materials.

On the 21st, Lotte Chemical announced, "We have participated in the preliminary bidding stage for the acquisition of PI Advanced Materials," adding, "No concrete details have been decided yet."

PI Advanced Materials is the world's number one polyimide (PI) film company. PI film is used in smartphones, semiconductors, and heat dissipation materials for electric vehicle battery packs.

The sale target is a 54% stake in PI Advanced Materials held by the private equity firm Glenwood Private Equity (PE). PI Advanced Materials' market capitalization is estimated to be around 1.4 trillion KRW, and the sale price is expected to be around 1 trillion KRW, considering the control premium.

In addition to Lotte Chemical, it is known that numerous domestic and international companies are included in the shortlist of qualified acquisition candidates.

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