Finance · 3 sources combined
TPG to make public offer for Lotte Rental
831.7 billion won invested for delisting
D-26 Deadline December 3 · Public offer application deadline
In short
US private equity fund TPG will make a public offer for remaining shares of Lotte Rental.
It will purchase 38.83% of remaining stake at 59,000 won per share.
If the acquisition succeeds, TPG will make Lotte Rental a wholly-owned subsidiary and pursue delisting.
Key facts
| When | Public offer will run for 28 days from November 6 to December 3. |
|---|---|
| Who | Lexicon Korea Hold Co., a special purpose company of TPG, is the acquirer. |
| What | Will acquire 38.83% remaining stake (14,097,325 shares) at 59,000 won per share. |
| How | Will invest total 831.7 billion won, convert to wholly-owned subsidiary, and voluntarily delist. |
What it means for me
Lotte Rental shareholders must decide whether to tender shares by December 3.
