SEOUL, KOREA - Lotte Confectionery is in talks to acquire Rakhat JSC, the largest confectionery maker in Kazakhstan. According to investment banking sources on June 17, the Korean company has appointed Samil PricewaterhouseCoopers and Kim & Chang as the principal underwriter and legal advisor, respectively, for takeover of the Kazakh firm.
An investment banker said, "Currently the two parties are negotiating over price and other acquisition terms and the deal will be closed by the end of July."
Established in 1942, Rakhat JSC makes a total of 250 confectionery items including chocolates, candies, cookies, and waffles, with No. 1 in terms of sales revenue.
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