SEOUL, KOREA - Lotte Confectionery announced on May 26 that it decided to absorb its subsidiary Lotte Boulangerie.The merger ratio between Lotte Confectionery and Lotte Boulangerie will be 1:0.
Lotte Confectionery will continue to exist, while Lotte Boulangerie will be liquidated.Even after the merger is completed, the largest shareholder will remain unchanged. The merger will take effect on August 1.
ALotte Confectionery official said, “This merger is part of our effort to save cost and strengthen our bakery business.”
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