Sending RFPs to Consulting Firms
Expected to Secure Liquidity of Approximately 1 Trillion Won
On the 27th, Lotte E&C announced that it was pursuing the sale of its headquarters building to secure liquidity. ⓒ Yonhap News
‘Lotte E&C is considering selling its headquarters site in Jamwon-dong, Seocho-gu, Seoul. If the sale is completed, it is expected to secure liquidity of around 1 trillion won.’
‘According to Lotte E&C on the 27th, the company recently sent Requests for Proposals (RFPs) to real estate consulting firms and accounting firms. The RFP includes a profitability analysis comparing site sale, self-development, and sale and leaseback.’
‘Lotte E&C plans to decide on the asset securitization method after reviewing the analysis results.’
‘The investment industry estimates the asset value of Lotte E&C’s headquarters building to be around 500 billion won. Including the sale of inefficient assets which has been underway since last year, it is expected to secure approximately 1 trillion won in liquidity.’
‘A Lotte E&C representative stated, “It is true that we are considering selling the headquarters building,” and added, “It is not that we urgently need to secure liquidity right now, but rather we believe it is better to consider selling assets from a stable position, so we have begun the review process.”‘