South Korea: Lotte Group looks to acquire major share in Lahore PepsiCo – reports
Lotte Chilsung Beverage Co, a unit of South Korean retail conglomerate Lotte Group, is expected to acquire a major share in a PepsiCo bottling company in Pakistan, the Maeil Business News reports.
Quoting sources from Lotte Group and the investment banking industry, Maeil Business News said that the South Korean firm was reportedly looking to buy 51 to 52% of shares in Lahore PepsiCo, a PepsiCo bottling company located in Lahore, a city in the northeast of Pakistan.
“(After the purchase), the remaining shares will continue to be owned by the existing shareholder (of Lahore PepsiCo), whom we plan to establish a partnership with”, a senior official from Lotte Group is quoted as saying:
Sources further claimed that beyond acquiring the majority stake in Lahore PepsiCo, Lotte Group had additional plans to acquire additional PepsiCo bottlers in various other regions of Pakistan.
Source: Maeil Business News