[Alpha Biz=(Chicago) Reporter Paul Lee] STIC Investment, a South Korean private equity fund (PEF) operator, will become the second-largest shareholder of Iljin Materials, which Lotte Group acquired last year. According to the investment banking industry on the 15th, Lotte Chemical is in negotiations to change its stake in IMG Technology, an overseas subsidiary of Stick, to a stake in Iljin Materials.
Once the negotiations on the in-kind investment method are completed, Stick is expected to acquire the second-largest shareholder status of Iljin Materials. IMG Technology is a subsidiary that serves as a control tower for Iljin Materials' overseas plants, with Iljin Materials holding 82.6% and STIC holding the rest.
STIC has invested about 1.25 trillion won in Iljin Materials twice since 2019.
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