Lotte Scraps $4.5 Billion Hotel IPO as Probes Deepen CrisisBy and
Decision comes day after group signaled deal would be shelved
Deal could have been world’s biggest IPO so far this year
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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