Reported about 7 hours ago
Lotte Group plans to pledge the Lotte World Tower, South Korea's tallest building, as collateral to address liquidity concerns related to its battery materials unit after Lotte Chemical faced challenges due to a downturn in the petrochemical industry. This move follows a failure to meet financial ratios, and Lotte Chemical will hold a bondholders' meeting to seek adjustments to these ratios. Additionally, Lotte intends to sell a majority stake in the country's largest car rental company.
Source: YAHOO