South Korea's Lotte Group sells car rental unit to private equity TPG for $925 million

11 Aug 2026 05:17PM

SEOUL, Aug 11 : Two affiliates of South Korean conglomerate Lotte Group signed a deal to sell Lotte Rental, South Korea's largest car-rental firm, to U.S. private equity firm TPG, Lotte said on Tuesday. The deal to sell a 61 per cent stake in Lotte Rental is worth 1.31 trillion won ($924.88 million), Lotte Group said in a statementTPG did not immediately comment. The sale is expected to help Lotte Group - a retail, hospitality and chemicals conglomerate - to secure liquidity to improve financial health and invest in expanding its core hotel business. ($1 = 1,416.4000 won)

Source: Reuters