Lotte Mart exiting Beijing

Date : 26 April 2018
Lotte Mart has agreed a deal with Chinese retailer Wumei Holdings Inc. to sell its 21 stores in Beijing. The deal Lotte will sell 87.38% stake of its Lotte Mart stores in Beijing to Wumei Holdings Inc. for CNY1.42bn (US$224m). Wumei operates Beijing-based supermarket, Wumart, covering mainly…
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