Lotte Lands Doosan Liquor Arm, Update

The beverage unit of South Korean conglomerate Lotte Group, Lotte Chilsung, has beaten off bids from four other unnamed firms to acquire the liquor business of rival conglomerate Doosan. Looking to exploit a sub-sector that BMI expects to grow by 19.5% in volume terms to 2013, and to capitalise on renewed strength in the popular soju sector, Lotte is expected to pay in the region of KRW500-600bn (US$381-457mn) for Doosan.

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