Lotte Group sells off units to invest $1.37 billion in biopharmaceuticals, EV batteries - Nikkei

Published 04/03/2025, 23:50
© Reuters.

Investing.com -- South Korean conglomerate Lotte Group is undergoing a significant restructuring, selling parts of its underperforming chemical and retail sectors, according to Nikkei. The company aims to raise $1.37 billion by the end of the year and channel these funds into burgeoning sectors such as biopharmaceuticals and electric vehicle batteries.

The holding company of the group, Lotte Corp., held a briefing with financial officers from its major subsidiaries in Seoul on February 27th. The officers informed approximately 150 analysts present that the restructuring efforts, which are designed to bolster core businesses, are proceeding as planned.

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