- share purchase agreement is ; to acquire 100 per cent shares (10 million issued shares)of HIL in cash by LOTTE, ie $152 million (Rs 978 crore) .
- Currently, Havmor is fifth largest ice-cream player and has a significant parlour network across 14 states in India by making 150 kinds of products from two plants and selling via 30,000 dealers.
- On the other hand, $80 billion-worth Lotte Confectionery entered India in 2004 and has established choco-pie factories in Chennai and Delhi,its market share reached 90 per cent in the Indian choco-pie market.
- KPMG, Veritas Legal and Dhruva Tax consultants were the financial advisers for the deal.
- Havmor, will continue to operate its restaurants well as cafe – Huber and Holly.
