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Lotte Group aims to sell Lotte Mart stores in China by year-end - executive

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Lotte Group aims to sell Lotte Mart stores in China by year-end - executive

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SEOUL (Reuters) – South Korea’s Lotte Group aims to sell its Lotte Mart stores in China by the end of this year, an executive said on Thursday, adding that several companies have expressed interest in the troubled assets. “We are in detailed talks with some of those companies,” the executive, Lim Byung-yun, said at a press briefing. Lotte Shopping <023530.KS> has picked Goldman Sachs <GS.N> to manage the sale of its hypermarkets and supermarkets in China, after most of them were shut down amid political tensions between the two countries.

(Reporting by Hyunjoo Jin; Editing by Joseph Radford)
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