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TPG Capital Buys Lotte Rental Stake

11 Aug

Summary

TPG Capital acquires 61.2% stake in Lotte Rental.
The deal is valued at 1.31 trillion won ($925 million).
Regulators previously blocked an earlier takeover attempt.

TPG Capital has announced its agreement to acquire a substantial 61.2% stake in Lotte Rental Co., South Korea's leading car rental firm. This acquisition marks a significant development, reviving the sale of the company after a prior takeover attempt was thwarted by regulators.

The completed transaction places the value of Lotte Rental at 1.31 trillion won, equivalent to $925 million. Each share has been valued at 59,000 won, a price point that reflects the company's market standing.

This deal indicates a positive turn for Lotte Rental, which faced regulatory hurdles previously. TPG Capital's investment signals confidence in the company's future prospects in the South Korean market.

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