An unknown buyer entered into a definitive agreement to acquire 50% stake in Lotte Shanghai Foods Co., Ltd. (LSFC) from The Hershey Company (NYSE:HSY) in October 2020. The transaction is subject to government approval and other customary closing conditions and is expected to close in the fourth quarter of 2020. Total proceeds from the sale of LSFC, net of cash divested, and the impact on The Hershey Company's consolidated financial statements are expected to be immaterial. An unknown buyer completed the acquisition of 50% stake in Lotte Shanghai Foods Co., Ltd. (LSFC) from The Hershey Company (NYSE:HSY) in January 2021.