Karachi, Lotte Chemical Corporation (LCC Korea), the majority shareholder of Lotte Chemical Pakistan Limited, has finalized an Assignment and Assumption Agreement with Lucky Core Industries Limited and its subsidiary, Lucky Core Ventures (Private) Limited. This agreement pertains to the Share Purchase Agreement dated January 26, 2023, through which LCC Korea will sell its substantial holding of 1,135,860,105 shares of the company.
The agreement marks a strategic move by LCC Korea to divest its majority stake in Lotte Chemical Pakistan Limited, an important subsidiary in its global portfolio. Lucky Core Industries Limited, a renowned player in the industry, emerges as the purchaser of these shares, solidifying its presence in the chemical sector.