LOTTE REIT Co., Ltd. (KOSE:A330590) agreed to acquire six shopping retail properties from Lotte Shopping Co., Ltd. (KOSE:A023530) for approximately KRW 780 billion on November 12, 2020. Under the terms of transaction, shopping retail properties include LOTTE Dept. Store Jungdong Branch for KRW 171.7 billion, LOTTE Dept.

Store Ansan Branch to be acquired for KRW 98.6 billion, LOTTE Mart Gyeyang Branch to be acquired for KRW 76.1 billion, LOTTE Premium Outlet Icheon Branch to be acquired for KRW 275.3 billion, LOTTE Mart Chuncheon Branch to be acquired for KRW 61 billion and LOTTE Mart Mall Gimpo Logistics Center to be acquired for KRW 95.5 billion. In connection with the Lotte Mart Mall Gimpo Logistics Center, LOTTE REIT will acquire land from Lotte Shopping Co., Ltd. for KRW 51.5 billion and a building from Lotte Global Logistics Co., Ltd. for KRW 44.05 billion. The deal was resolved by Board on November 12, 2020.

The transaction is subject to customary closing conditions, including approval by the Fair Trade Commission, approval of the Ministry of Land, Transport and Maritime Affairs. Date of signing a sales contract and transfer is December 2020.