TPG to take Lotte Rental private via tender offer

Korea Times News ·
Business Mergers & Acquisitions South Korea

U.S. private equity firm Texas Pacific Group (TPG) will acquire the remaining shares in South Korea's leading car rental company, Lotte Rental Co., through a tender offer by early next month, the company said Friday. TPG's wholly owned special purpose vehicle (SPV), Lexicon Korea Holdco Inc., plans to purchase 14 million shares, or a 38.83 percent stake, in Lotte Rental at 59,000 won ($43.50) per…

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