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South Korea blocks Affinity takeover of Lotte Rental after SK Rent-a-Car buy

( January 26, 2026, 03:01 GMT | Official Statement) -- MLex Summary: Affinity Equity Partners’ planned acquisition of a 63.5 percent stake in Lotte Rental was blocked by South Korea’s antitrust watchdog, which said the deal would likely raise rent-a-car prices and substantially weaken competition. The Korea Fair Trade Commission on Monday said that as Affinity already owns SK Rent-a-Car after buying it in August 2024, the transaction would put the country’s No. 1 and No. 2 rental-car operators under common control. The regulator said it reviewed short-term and long-term rentals as separate markets, concluding rivalry between the two leaders is especially important because remaining competitors are mostly small and structurally weaker, while entry and expansion are constrained in places like Jeju Island and for capital firms in long-term rentals. The regulator said it opted for an outright ban, citing the severity of the competitive harm and doubts that time-limited remedies would hold, particularly given private equity’s buyout-and-exit incentives.The statement is attached (in Korean)....

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