Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Lotte Shopping will be buying Hanssem, a large Korean furniture company. The retail company was said to have been chosen by the private equity firm, IMM, to sign a joint deal for the purchase of a stake worth ₩1.5 trillion or around $1.3 billion.
The Korea Economic Daily reported that with Lotte Shopping taking over the furniture firm, an intensified competition among department stores in South Korea is expected. This is because Lotte has more to offer now to their customers, and for some of the major shopping places that also sell furniture like Hyundai Department Store Group that owns Hyundai Livart Furniture Co., and Shinsegae Group that has the Casamia Co. furniture brand, they will be threatened with a brand like Hanssem, the nation’s largest furniture and home furnishing firm.
In any case, it was reported that IMM PE chose Lotte Shopping to jointly acquire Hanssem since it is the perfect candidate as a strategic investor. Sources in the investment banking industry said that the department store firm will be investing ₩299.5 billion to help IMM fund the buyout. The deal between the companies is said to be a limited partnership for this transaction only.
IMM PE and Hanssem will be signing the share purchase agreement (SPA) this week. It was mentioned that back in July, the private equity firm already signed a preliminary agreement to take over a 30.21% stake in the furniture company. Based on the agreement, the stake includes management rights.
It was said that the Lotte Group made the decision to join IMM for the acquisition because its own Lotte Himart, an electronics outlet chain, and the Lotte Department Store can create synergy with the furniture business. Moreover, Lotte Engineering & Construction Co. can also collaborate with Hanssem’s line.
According to Pulse News, IMM PE announced its official decision to choose Lotte Shopping late last week. The PEF company decided which one to pick as a partner in the acquisition after considering which would be more favorable in terms of credit evaluation.
“We expect the investment to help enhance product competitiveness, plan differentiated space, and develop contents, while also creating synergy as a group by partnering with construction and Hi-mart affiliates,” an official at Lotte Shopping said.
