EL7.AI
Mergers & AcquisitionsMedium•30 October 2026•
2 min read

Lotte Completes Sale of 61.2% Stake in Lotte Rental to TPG for 1.3105 Trillion Won

Key Facts

1Lotte sold its controlling stake in Lotte Rental for 1.3105 trillion won on October 30, 2026.
2The sale covered the entire 61.2% stake held by Hotel Lotte and Busan Lotte Hotel.
3Reuters reported when the agreement was announced that the deal was worth 1.31 trillion won, equivalent to 924.88 million dollars.
4The deal was completed after South Korea’s Fair Trade Commission approved the business combination.

Lotte Group completed the sale of its controlling stake in Lotte Rental to TPG for 1.3105 trillion South Korean won, according to a ChosunBiz report published on October 30, 2026. The sale covered the entire 61.2% stake held by Hotel Lotte and Busan Lotte Hotel. Lotte signed the sale agreement on August 11 before completing the ownership transfer procedures. The deal closed after receiving business-combination approval from South Korea’s Fair Trade Commission. Its completion gives TPG control of the rental company and marks a step in Lotte’s portfolio restructuring.

ChosunBiz reported that Lexicon Korea Holdco became Lotte Rental’s largest shareholder after the share purchase agreement was completed. The entity is a special-purpose company established by TPG to acquire the company. The sold stake thus passed from Hotel Lotte and Busan Lotte Hotel to the acquisition vehicle set up by TPG. Reuters reported when the agreement was announced that the deal covered a 61% stake and valued it at about 1.31 trillion won, equivalent to 924.88 million dollars at the exchange rate cited in its report. The final price in the sale-completion report was 1.3105 trillion won.

The deal is part of Lotte Group’s efforts to reshape its portfolio and exit non-core businesses and underperforming assets, according to ChosunBiz’s correction of the stated purpose of the sale. Reuters estimated that the proceeds would help the group secure liquidity to improve its financial position. It also said the group expects to direct investment toward expanding its core hotel business. Lotte operates in retail, hospitality and chemicals, according to Reuters. The sale places the stake disposal within the group’s resource reallocation, with a stated focus on strengthening liquidity and developing its hotel business.

Lotte announced that it had signed the sale contract on August 11, according to details ChosunBiz reported about the stake held by the group’s two hotels. The contract covered all shares amounting to 61.2%, rather than only a partial stake in the hotels’ ownership. Reuters cited a group statement at the time saying the deal was worth 1.31 trillion won, or 924.88 million dollars. After the agreement, the deal still required approval from South Korea’s Fair Trade Commission before completion, according to ChosunBiz. It closed after that approval was issued, changing the identity of the largest shareholder from Lotte’s two entities to Lexicon Korea Holdco.