[Lotte Rental M&A] Korea & Company shakes up TPG's lead… acquisition battle enters a 'new phase'

Korea & Company Group is reportedly reviewing a possible acquisition of Lotte Rental, signaling a new phase in the sale process.

With a potential letter of intent also under consideration, the deal could evolve from a TPG-led negotiation into a more competitive bidding process.

Lotte Rental has been holding due diligence and talks with TPG over a stake sale, but no transaction has been finalized yet.

A new bidder could shift pricing and deal terms, while Korea & Company could expand its mobility portfolio into vehicle operations through rentals.