TPG to take Lotte Rental private via tender offer

· Politics · South Korea · United States

US private equity firm Texas Pacific Group will take Lotte Rental private through a tender offer, according to a report from Seoul. The move would delist the South Korean vehicle-rental and leasing company and give TPG full control of its operations. Private equity buyouts of listed Korean companies have increased as global funds look for undervalued assets, and taking a company private allows an owner to restructure without quarterly market pressure. The deal's terms and timeline were not detailed in the item.

Why it matters：The buyout shows private equity's growing appetite for Korean listed companies and could prompt similar deals.

Key points

  • TPG will take Lotte Rental private via a tender offer.
  • The company is a South Korean vehicle-rental and leasing firm.
  • Deal terms and timing were not detailed.

Sources (original reporting)

More stories from this day