Lotte Scraps $4.5 Billion Hotel IPO as Probes Deepen Crisis

  • Decision comes day after group signaled deal would be shelved
  • Deal could have been world’s biggest IPO so far this year

Shoppers walk on staircases at the Lotte World Mall in Seoul.

Photographer: SeongJoon Cho/Bloomberg

Lotte Group shelved what may have been a $4.5 billion initial public offering, the world’s biggest so far this year, for its hotel unit after widening investigations pushed the South Korean conglomerate deeper into crisis.

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