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Lotte scion to sell most of his stakes amid power tussle

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Published Tue, Sep 12, 2017 · 09:50 PM

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Seoul

SHIN Dong Joo, the elder son of Lotte Group's founder, has decided to sell most of his stakes in Lotte Shopping and three other units of South Korea's No5 conglomerate, his company said without providing the value of the sale.

Mr Shin raised "serious concerns" about the planned merger of Lotte Shopping with the three other affiliates - Lotte Confectionery, Lotte Chilsung Beverage and Lotte Food.

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