[DISCLOSURE] Lotte Shopping (023530) announced on April 26 that its subsidiary Lotte Shopping Holdings Hong Kong has decided to sell Lotte Mart in northern China to China’s Wumei Holdings at 77.7 billion won (US$71.96 million). 

The Chinese company will take over 87.38 percent stake in Huabei operation, one of six operators of Lotte Mart in China, and will invest 175.0 billion won in Lotte Mart, said the statement.

By Hwang You-mee (glamazon@heraldcorp.com)