Lotte Chemical "Additional Acquisition of US Subsidiary Shares for 275 Billion KRW"
[Asia Economy Reporter Yoo Hyun-seok] Lotte Chemical announced on the 28th that it will acquire an additional 100 shares of its affiliate, the U.S. battery materials investment subsidiary (LOTTE Battery Materials USA), for 275 billion KRW to secure funds for expanding its battery materials business.
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After the acquisition, the shareholding ratio will be 100%. The scheduled acquisition date is the 29th. Lotte Chemical stated that the purpose of this stock acquisition is "to secure investment funds necessary for acquiring shares of Iljin Materials Co., Ltd., which is being pursued to expand the battery materials business," but also added, "The acquisition of this business is currently under consideration and has not been finalized, and related disclosures will be made once confirmed."
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