Korea's Lotte Sets Deal for 49% of China Retailer
Lotte Shopping Co. has agreed to acquire a controlling stake in China Trade Association Makro Commercial, expanding its presence in the country's fast-growing retail sector.
The South Korean retailer's 78 billion won ($83.8 million) purchase of 49% of the Chinese discount-mart operator is subject to approval by the Chinese government.
TD Lotte Shopping plans to open the first Chinese store in its flagship Lotte department-store chain in the first half of 2008. It has set up a holding company in China for its food and confectionary business.
Lotte is South Korea's No. 1 department-store operator in terms of sales, controlling more than 40% of the market. CTA Makro is a joint venture between the Swiss unit of Netherlands-based SHV Holdings N.V. and China Trade Association Property Corp. and operates five outlets in Beijing and two in Tianjin.
Lotte Shopping said it is committed to broadening CTA Makro's network, while looking for opportunities for further acquisitions in China. It is also interested in increasing its stake in CTA Makro in the future. SHV is selling its entire stake and management rights in the joint venture to Lotte Shopping.
Makro is scheduled to open its eighth store in Beijing at the beginning of 2008.
Lotte Shopping plans to rebrand the Chinese company as Lotte Mart after the acquisition is completed.
乐天百货公司(Lotte Shopping Co.)已同意收购中贸联万客隆(China Trade Association Makro Commercial)的控股权，以增强其在中国迅速增长的零售行业的实力。
这家韩国零售商以780亿韩圆（合8,380万美元）收购此中国大卖场运营商49%股份的交易还需得到中国政府的批准。
乐天百货计划于2008年上半年在中国开设其旗舰乐天百货连锁店的第一家分店。该公司已经在中国成立了一家控股公司，专营食品和糖果点心业务。
乐天是韩国销售额最高的百货公司经营商，市场占有率逾40%。中贸联万客隆由荷兰SHV Holdings在瑞士的子公司与中贸联置业有限公司(China Trade Association Property Corp.)合资开办，在北京和天津分别开有五家和两家门店。
乐天百货表示将致力于扩展中贸联万客隆的网络，同时寻求在中国进行其他并购的机会；并表示有兴趣在将来增持中贸联万客隆的股份。SHV将向乐天百货出售其在中贸联万客隆的所有股份及经营权。
万客隆计划在2008年初在北京开设第八家门店。
乐天百货打算在收购完成后将这家中国公司的品牌改为Lotte Mart。