Lotte Looks to Chemicals With $2.6 Billion Samsung Deal

Lotte Group is buying Samsung Group’s chemical businesses for about 3 trillion won ($2.6 billion), in one of the biggest deals among South Korea’s family-run conglomerates as the retail giant seeks growth beyond hotels and department stores.

The group’s chemical arm will take a 31.5 percent stake in Samsung Fine Chemicals Co., which includes 49 percent of Samsung BP Chemicals Co. The company will also buy 90 percent of Samsung SDI Co.’s chemical unit after it’s split off, according to a Lotte statement on Friday.