Lotte Chemical Korea to divest 75% stake in LOTCHEM

By MG News | February 19, 2025 at 02:48 PM GMT+05:00

0:00

February 19, 2025 (MLN): The Board of Directors of Lotte Chemical Corporation, South Korea (LCC Korea), the majority shareholder (75.01%) of Lotte Chemical Pakistan Limited (PSX: LOTCHEM), has approved and authorized the sale of its entire shareholding in the company.

The decision is part of LCC Korea's business portfolio transformation and is subject to the execution of a share purchase agreement (Proposed Divestment) on specified terms and conditions.

The aforementioned information was disseminated through a notification to Exchange.

The completion of the Proposed Divestment will depend on obtaining all necessary regulatory and corporate approvals.

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