TPG acquires controlling stake in Lotte Rental from Lotte hotel units
TPG has completed its purchase of a 61.2% controlling stake in South Korean car rental company Lotte Rental for about 1.3 trillion won.
Lotte Group said on October 30, 2026 that it has completed the sale of a 61.2% controlling stake in Lotte Rental to TPG. The stake was held by Hotel Lotte (38.1%) and Busan Lotte Hotel (23.0%). The share purchase agreement was signed on August 11.
The total transaction price was about 1.3105 trillion won ($920 million), or 59,000 won per share. Lotte Rental began in 1989 as Kumho Rent-a-Car, was bought by KT in 2010 and by Lotte Group in 2015 for about 1.02 trillion won.
Lotte Group plans to use the proceeds to improve the financial soundness of the two hotel units. Lotte Rental said it will draw on TPG's global investment capabilities and network. The sale is part of Lotte's ongoing divestment of non-core businesses.
Deal facts
- Target
- Lotte Rental
- Business
- South Korean car rental company, formerly Kumho Rent-a-Car, rebranded after Lotte Group's 2015 acquisition
- Buyer
- TPG
- Sponsor
- TPG
- Seller
- Hotel Lotte and Busan Lotte Hotel
- Deal type
- Platform
- Value
- 1.3105 trillion won
- Status
- Completed
- Announced
- Tuesday, August 11, 2026
Sources
- Seoul Economic DailyOct 30, 2026
- msn.comAug 11, 2026
- BigGo FinanceOct 30, 2026
- biz.chosun.comSep 30, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.