Retail Formats
Lotte Wants to Sell Its Supermarkets in China for 4.8 Billion Yuan—Who Will Take Over?
Lotte Group, which had repeatedly denied withdrawing from China, has finally decided to sell its Chinese supermarket chain Lotte Mart. The sale of its 112 stores is not going smoothly, as buyers' offers are far below the book value of 830 billion won. The ongoing THAAD dispute has chilled Sino-Korean relations, and Lotte's 8 trillion won investment in China may face further difficulties.
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