Lotte Chemical USA Sells Membership Interests in LACC to Eagle US for US$816.5 million
Seoul and Houston — Paul Hastings LLP, a leading global law firm, announced today that the firm has represented Lotte Chemical USA Corporation (“LC USA”), a member company of the Lotte Group, on its sale of a 34.79% membership interest in LACC LLC (“LACC”) to Eagle US 2 LLC (“Eagle US”), a subsidiary of Westlake Chemical Corporation, for a purchase price of approximately US$816.5 million.
LACC is a joint venture between LC USA and Eagle US for the development of an ethane cracker plant in Louisiana. After the sale, Eagle US’ shareholding in LACC has increased, while LC USA continues to hold the majority of the shareholding.
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