By Kim Tae-jong
Lotte Group announced Friday that it is considering throwing its hat into the ring to acquire Woongjin Coway, the country’s biggest manufacturer of water and air purifiers.
The announcement came as the Korea Exchange asked the retail giant to confirm the rapidly spreading rumors that it has taken steps for the acquisition.
“At a group level, Lotte is now considering of taking over Woongjin Coway,” an official of Lotte Group said. “But nothing specific has been fixed yet.”
The Seoul-based conglomerate will choose an investment bank next week as an advisor for the purchase and also receive an information memorandum from Woongjin Coway, he said.