Lotte Shopping to buy 75 pct stake in Indonesian discounter

SEOUL, Oct 7 (Yonahp) -- South Korea's top department store chain, Lotte Shopping Co., said Tuesday it plans to buy a 75 percent stake in a discounter in Indonesia for 294 billion won (US$221 million).

Lotte will acquire 4.7 million shares in PT Makro Indonesia, with Lotte Shopping
Holdings Pte, its affiliate in Singapore, buying the remaining 25 percent after
receiving approval from the Indonesian government, it said in a regulatory
filing.
PT Makro, held by Dutch wholesaler SHV Holding, operates 19 stores in Indonesia,
one of Southeast Asia's largest economies.
The deal follows Lotte's acquisition of eight Chinese stores from SHV in late 2007.
Shares of Lotte Shopping were trading at 239,000 won as of 10:15 a.m., down 3.43
percent from Monday.
pbr@yna.co.kr
(END)