Affinity Equity Partners to acquire 56.2% of Lotte Rental for KRW 1.57tn (terminated)
- Deal value
- $1.1bn
- Stake
- 56.2%
- Implied 100%
- $1.9bn
- Revenue
- $2.0bn
- Op. income
- $216m
- Multiples
- EQV/EBIT 9.0xPSR 1.0x
Deal value ÷ stake (structure unconfirmed)
2025 연결 · DART-verified
2025 연결 · DART-verified
On implied equity value
DART 20260316000884
- Target
- Lotte Rental · Car rental
- Buyer
- Affinity Equity Partners · FI
- Seller
- Hotel Lotte & Busan Lotte Hotel
- Structure
- —
- Announced
- Dec 6, 2024
- Closed
- —
- Stage
- Terminated
Target
Lotte Rental is Korea's largest car rental operator (reported long-term rental share of about 21%), with used-car B2C and new mobility businesses. 2025 revenue was KRW 2.9188tn and net profit KRW 126.7bn.
Deal rationale
Reports attribute the sale of the 56.2% stake by Hotel Lotte and Busan Lotte Hotel to Lotte Group's liquidity needs and portfolio restructuring, while Affinity sought synergies with SK Rent-a-Car, which it bought in 2024. In January 2026 the Fair Trade Commission blocked the combination, finding a combined long-term rental share above 38% could restrict competition; the SPA was terminated in May 2026 and Lotte said it would continue talks with other potential investors.
| Revenue | $2.0bn |
| Operating income | $216m |
| EBITDA | — |
| Net income | — |
2025 연결 · DART-verified · 20260316000884
Press coverage
- 딜사이트 (2025-03-12): “어피니티는 롯데와의 SPA를 통해 호텔롯데와 부산롯데호텔이 보유한 롯데렌탈 지분 56.2%를 1조5729억원에 사들일 예정이다.”
- 한국경제 (2026-05-18): “롯데그룹은 지난해 3월 보유 중인 롯데렌탈 지분 56.2%를 총 1조5728억원(주당 7만7115원)에 어피니티에 매각하는 SPA를 체결한 바 있다.”
- 디지털데일리 (2026-05-18): “주요 사항에 대한 최종 합의에 도달하지 못했다”
- CEO스코어데일리 (2026-08-11): “지난해 3월 어피니티에 지분 56.2%를 1조5728억원에 매각하기로 했으나 공정위 기업결합 심사를 통과하지 못해 무산”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.