PwC provided M&A advisory to Woori Bank on the acquisition of Lotte Card Co., Ltd.

PwC Korea Deals Transaction Service team is pleased to announce the acquisition of equity in Lotte Card Co., Ltd. to Woori Bank.

Lotte Card Co., Ltd. was founded in 1989. The Company provides credit cards, one time payments, installments, and cash advance services.

Lotte Card has a large number of distribution customers through the infrastructure of Lotte Group. Based on the first half 2019 market figures, Lotte Card is the fifth-largest credit card company in Korea. 

Woori Bank, a subsidiary of the Woori Financial Group, provides a full range of commercial banking services and has 874 branches and offices globally.

The PwC Korea Deals Transaction Service team, led by Dae-Joon Park and Joo-Ho Choi, was engaged as the lead financial advisor for Woori Bank and successfully closed the transaction.