Lotte buys controlling stake in Ho Chi Minh City’s Diamond Plaza: media
Saturday, March 07, 2015, 14:42 GMT+7
South Korean conglomerate Lotte has replaced a compatriot company in the joint venture that owns the Diamond Plaza trade center in downtown Ho Chi Minh City, a Vietnamese newswire reported Thursday.
The 20-story building is now operated by a joint venture between Vietnam’s Construction Corporation No.1 (CC1) and Lotte, instead of the Posco Engineering & Construction Co. (POSEC), The Saigon Times Online quoted Lotte’s chairman Shin Dong Bin as saying on Wednesday.
Shin revealed the move during a meeting with Ho Chi Minh City’s chairman Le Hoang Quan, where they discussed several investment plans, including the construction of a US$2 billion Eco Smart City, the South Korean company is eying in the southern Vietnamese metropolis.
