[아이뉴스24 오경선 기자] NH Investment & Securities analyzed on the 8th that Lotte Rental can expect synergies with its subsidiary Green Car by increasing its stake in the car-sharing company Socar. We maintained a ‘buy’ rating and a target price of 61,000 won.
On the previous day, Lotte Rental announced that it would acquire a 13.9% stake in Socar for 183.2 billion won. This is equivalent to 25.93% of Lotte Rental’s equity capital.
Joo Young-hoon, a researcher at NH Investment & Securities, said, “If the stake acquisition is completed, Socar’s stake structure will be 29.1% for the largest shareholder, 19.0% for SK, 13.9% for Lotte Rental, and 38.0% for others.” “There is a preferred purchase right. Socar requested a preliminary review for listing in January, so if it goes public, it is highly likely that Lotte Rental will expand its stake.”
Researcher Joo said, “Currently, Socar is operating about 15,000 vehicles. As Lotte Rental currently operates about 9,200 vehicles through its subsidiary Green Car, synergy is expected by establishing cooperative relationships with the first and second largest operators. “Primarily, the aggressive marketing of both companies to expand their market share will be eased, and profitability improvement is possible. In the mid-to-long term, it is expected that future mobility business ecosystems such as electric vehicles, combined parking and autonomous driving will be jointly created.” .
