LCC Korea to sell 75.01% stake in Lotte Chemical Pakistan

On 20-02-2025, Lotte Chemical Pakistan Limited (LOTCHEM) disclosed the following material information.

We would like to inform you that the Board of Directors of Lotte Chemical Corporation (“LCC Korea”), the majority (75.01%) shareholder of Lotte Chemical Pakistan Limited (“Company”), has entered into a Share Purchase Agreement dated February 19, 2025, with M/s. AsiaPak Investments Limited and Montage Oil DMCC for the sale of all of the company’s shares held by LCC Korea (1,135,860,105 shares, constituting approximately 75.01% of the issued and paid-up capital of the company). This divestment is part of LCC Korea’s business portfolio transformation.

The consummation of the divestment shall remain subject to the procurement of all applicable regulatory and corporate approvals and the fulfillment of requisite closing conditions. The company shall keep the Exchange apprised of all further developments regarding the divestment.