LOTTE Confectionery completes acquisition of 76% of Rakhat JSC

LOTTE Confectionery completes acquisition of 76% of Rakhat JSC

Almaty, Kazakhstan, 27 November 2013 – LOTTE Confectionery, the leading confectionery company in South Korea, and Rakhat JSC, the leading confectionery company in Kazakhstan, announced today that, further to the announcement made on 2nd July 2013, LOTTE Confectionery has obtained the necessary regulatory approvals and completed the acquisition of approximately 76% of the outstanding shares of Rakhat JSC.

LOTTE Confectionery intends to issue a mandatory tender offer to acquire the remaining 24% shares in Rakhat JSC, at such time and on terms mandated by Kazakhstan law.

HSBC acted as the exclusive financial advisor to the controlling shareholder group of Rakhat JSC, and Morgan Lewis acted as their legal counsel. Samil PricewaterhouseCoopers, Kim & Chang and Dentons advised LOTTE Confectionery.