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South Korean-Japanese conglomerate Lotte’s Seoul-based holding firm Lotte Corp. sold off its 2.76 percent stake in BNK Financial Group to Hotel Lotte Pusan, BNK said in a regulatory filing on Sept. 3. Some 9 million shares of BNK Financial were handed over to Hotel Lotte Pusan in return for 6...
Aekyung Group and two consortia, one involving private equity firm Korea Corporate Governance Improvement and the other led by real estate developer Hyundai Development Company , have reportedly joined the preliminary bidding round for Seoul-based air carrier Asiana Airlines on Sept. 3. The en...
SK Discovery completed a merger with its wholly owned subsidiary SK Syntec on Sept. 2, according to a regulatory filing. Under the deal, management consulting firm SK Syntec merged with its parent firm SK Discovery. SK Discovery’s assets jumped to 1.4 trillion won ($1.1 billion) from 1.2 trillio...
KG Group has become the biggest shareholder of Dongbu Steel as its joint venture KG Steel took control over its newly issued 40 percent stake, according to a regulatory filing Sept. 2. The steelmaker -- which got a new name KG Dongbu Steel -- said KG Steel, held equally by KG Corp., KG Eco Tech...
SK Holdings said Sept. 2 that it has handed over its entire stake in SK Biotek to its US subsidiary Alchemy Acquisition in exchange for new shares worth 438.7 billion won ($361 million). The transaction took place on Aug. 30, immediately after board approval. Its decision reduced SK Holdings’ di...
Line Corp., a Japanese subsidiary of Naver Inc., plans to merge Line Part Time Job, Line's wholly-owned business dedicated to online recruiting for part-time jobs, by November this year, according to the Korean internet giant on Aug. 30. Line gained approval from its board of directors the same da...
Seoul-based Hansol Paper walked away from an acquisition bid for corrugated box maker Tailim Packaging and cardboard maker Tailim Paper, the company revealed in an Aug. 27 disclosure. “Contemplating on the Tailim acquisition deal as its potential bidder, we decided not to join the final bidding r...
Samsung Active Asset Management said on Aug. 26 that it had dropped its merger plan with Franklin Templeton Investment Trust Management to create new joint venture Samsung Franklin Templeton in South Korea under a bilateral agreement. The two companies cited common ground in the face of changing m...
The volume of inbound mergers and acquisitions in South Korea approved by its antitrust body have been on the rise in the first half of 2019, data showed Aug. 26. Foreign companies’ cross-border M&A transactions involving Korean entities came to a combined 3.7 trillion won ($3.04 billion) in the ...
Lotte Chemical said in a regulatory filing on Aug. 22 that its management had agreed to merge with wholly owned subsidiary Lotte Advanced Materials. Seoul-based Lotte Chemical’s board of directors agreed on a planned market extension merger between two subsidiaries of the Korean-Japanese Lotte c...
South Korean biopharmaceutical drugmaker Genexine and gene-editing company ToolGen said Aug. 20 in respective regulatory filings that they had dropped plans for a 1:1.2 merger to create ToolGenexine due to shareholder opposition. The total value of stakes held by dissenting shareholders from b...
South Korea’s private equity firm Orchestra Private Equity said Aug. 15 that its portfolio firm Majesty Golf Korea is looking to buy a 49 percent stake in Majesty Golf, a Japanese company that makes high-end golf equipment, for 2.1 billion yen ($19.7 million) from retail shareholders by September....
Seoul-based LG Household & Health Care said on Aug. 16 that it had closed a stake purchase deal in US beauty and personal care product maker New Avon for $125 million in cash. Under the transaction, LG H&H had bought New Avon’s entirety -- 1 million shares from US private equity Cerberus Capita...
South Korea’s wood material maker Dongwha Enterprise said Aug. 14 that it has bought an 89.63 percent stake in battery electrolyte maker Panax Etec, valuing the firm at 131.5 billion won ($108.4 million). Dongwha paid 117.9 billion won to acquire the stake from Seoul-based private equity firms ...
Game developer Neptune’s shares soared 20 percent in morning trading on Aug. 14 following the news that it has received funding worth 10 billion won ($8.24 million) from Krafton Game Union, formerly known as Bluehole. The South Korean company said in a regulatory filing that Krafton has decided t...
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