Lotte Group is considering acquiring a controlling stake in Styron Corp., a unit of Dow Chemical Co. (DOW), an official at the South Korean conglomerate said Thursday.

The group, however, has yet to take a final decision, the official, who asked not to be named, said without elaborating.

Deutche Bank and HSBC are advising on the sale of the plastic synthetic resins maker, online news provider Money Today reported earlier Thursday, citing industry sources.

The market estimates the deal at $1 billion to $2 billion. Lotte is one of the seven to eight bidders shortlisted after a preliminary bidding last year, the report said.

-By Kyong-Ae Choi, Dow Jones Newswires; 822-3700-1903; kyong-ae.choi@dowjones.com
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