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Magazines Archives - 2008 November Lotte growing aggressively through global acquisitions IN its third overseas acquisition, Lotte Group, a South-Korean departmentstore chain conglomerate, added the Indonesian arm of Dutch discount-store franchise, PT Makro Indonesia, to its portfolio last month. The 385.9-billion-won (US$277-million) deal came after its purchase of Makro China for RMB1.3 billion (US$188 million). Lotte plans to operate 300 hypermarkets throughout China over the next decade. The group’s public relations manager, Na Geun-tae, said: “Indonesia is rapidly growing at over 6% every year. Although Makro was in the red last year, the showing is better now, and [the company] is expected to post a surplusat the end of the year.” Despite a 19% year-on-year drop in its third-quarter net profit to 122.7 billion won, the group revealed that it would open its first Lotte Mart in Vietnam by this year-end.
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