{
  "id": 18422627,
  "title": "TPG to take Lotte Rental private via tender offer",
  "url": "https://urgent.news/2026/11/06/tpg-to-take-lotte-rental-private-via-tender-offer",
  "topic": "world",
  "section": "World",
  "published": "2026-11-06T02:32:06.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/business/20261106/tpg-to-take-lotte-rental-private-via-tender-offer"
  },
  "original_language": "en",
  "account": "U.S. private equity firm Texas Pacific Group (TPG) has announced plans to acquire the rest of Lotte Rental Co., the top car rental company in South Korea. TPG will carry out a tender offer to secure control of the company, delist it from the Korean stock market, and make it a wholly owned subsidiary.\n\nLexicon Korea Holdco Inc., a wholly-owned special purpose vehicle (SPV) of TPG, intends to purchase 14 million shares, accounting for 38.83% of Lotte Rental, at a price of 59,000 won ($43.50) per share. The tender offer will be active from Friday until December 3rd, with an estimated value of 831.7 billion won.\n\nIn a regulatory filing, Lexicon Korea stated that the tender offer was launched to take full control of the target company and delist it from the Korean stock market. The bidder plans to settle the tender offer in cash on December 7th, purchasing all outstanding shares.\n\nEarlier this month, TPG had acquired a combined 61.2% stake in Lotte Rental for 1.31 trillion won from affiliates of Lotte Group, namely Hotel Lotte and Lotte Hotel Busan. Lotte Group is South Korea's sixth-largest conglomerate by assets.",
  "summary": "U.S. private equity firm Texas Pacific Group (TPG) will acquire the remaining shares in South Korea's leading car rental company, Lotte Rental Co., through a tender offer by early next month, the company said Friday. TPG's wholly owned special purpose vehicle (SPV), Lexicon Korea Holdco Inc., plans to purchase 14 million shares, or a 38.83 percent stake, in Lotte Rental at 59,000 won ($43.50) per…",
  "key_points": [
    "TPG plans to acquire Lotte Rental Co. via tender offer.",
    "Lexicon Korea to purchase 38.83% of Lotte Rental at 59,000 won per share.",
    "Tender offer active until December 3rd, settlement on December 7th."
  ],
  "editors_take": "TPG’s move to delist the top South Korean car rental firm signals a shift toward total ownership and private management following its recent acquisition of a majority stake.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Yonhap News",
        "title": "TPG to take Lotte Rental private via tender offer",
        "url": "https://urgent.news/2026/11/06/tpg-to-take-lotte-rental-private-via-tender-offer-18425397",
        "published": "2026-11-06T02:15:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}