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China International Capital Corp, China’s leading investment bank, is set to invest 5 billion won ($4.2 million) in South Korea’s largest secondhand goods platform Joonggo Nara, the Hankuk Business Daily reported on May 30. This marks CICC’s first direct investment in a local company. CICC wil...
Igis Asset Management, South Korea’s largest property investment firm by assets under management, gained regulatory approval for an ownership transfer on May 29. The news cleared the hurdles ahead of the Seoul-based company’s renewed attempt for an initial public offering. The Financial Service...
Aekyung Group, which offers consumer goods to low-cost carriers, appears to be joining the race to buy Asiana Airlines, according to market watchers on May 29. “We’ve been mulling the idea (of acquiring Asiana Airlines) since Kumho Asiana Group Chairman Park Sam-koo announced the sale,” an offi...
Samsung SDS has pledged to buy 25 percent stake in CMC, Vietnam’s leading information technology service provider, the Korean firm said on May 27. After gaining approval from CMC shareholders, the investment will back the Vietnamese firm’s goal to cross the $1 billion mark in annual sales by 202...
Retail giant Lotte Group’s South Korean holding company Lotte Corp. has agreed to sell a majority stake in its credit card arm Lotte Card to a consortium comprising MBK Partners and Woori Bank. According to its disclosure on May 27, the board of directors have agreed to hand over 59,664,814 sha...
South Korea’s biggest corrugated fiberboard makers Tailim Packaging and Tailim Paper are up for sale, according to industry sources on May 23. Seoul-based private equity firm IMM PE, the largest shareholder of the two companies, has sent out a memorandum to a dozen potential buyers via the deal m...
South Korean retail firm E-Land World said on May 3 it has signed a stock purchase agreement with Xtep International Holdings to sell its subsidiary K-Swiss for 300 billion won ($260 million). The deal is expected to close in August. “Through this win-win deal, E-Land can strengthen its finances...
Two Seoul-based private equity firms have been selected as the most preferred bidders for the respective acquisition of South Korean-Japanese conglomerate Lotte Group’s nonbanking financial arms Lotte Non-Life Insurance and Lotte Card, according to industry sources on May 3. Related: Woori joi...
South Korea’s catering and food service firm CJ Foodville said on April 30 that it has decided to sell 45 percent stake in coffeehouse franchise A Twosome Place for 202.5 billion won ($173.3 million) to Hong Kong-based private equity firm Anchor Equity Partners. The subsidiary of Korean food-to-e...
Woori Financial Group said on April 30 it will join the race to take over Lotte Card by teaming up with MBK Partners, South Korea’s largest private equity firm by assets under management. In the newly-unveiled consortium to buy Lotte Card, Woori seeks to acquire some 20 percent stake, while 60 p...
Seoul-based brokerage house Hanwha Investment & Securities said on April 29 that it has bought a 90.05 percent stake in Hanoi-based online stock brokerage company HFT Securities for some 5 billion won ($4.3 million). Hanwha completed the transaction upon approval by the State Securities Commissi...
Hana Financial Group , South Korea’s third-largest commercial bank-led financial holding company, has emerged as the top candidate for a projected 1.5 trillion won ($1.3 billion) acquisition of Lotte Card, according to analysts and industry watchers. Other contenders such as Hanwha Group and I...
Kakao Page, a mobile content platform operator owned by South Korea’s internet giant Kakao , has selected underwriters for an initial public offering of the company roughly valued at some 1.5 trillion won ($1.3 billion). Related: KakaoPage acquires Indonesian webtoon operator Korean investmen...
Seoul-based media giant CJ ENM reiterated April 17 that it is not taking an acquisition of Dexter Studios into consideration, months after a previous denial in January. “(CJ ENM) is not pursuing an acquisition of Dexter Studios,” CJ ENM said in a regulatory filing April 17. “But (CJ ENM) i...
Hyundai Heavy Industries Holdings has agreed to sell its 17 percent stake in Hyundai Oilbank to Saudi Aramco for 1.4 trillion won ($1.2 billion), leaving the refiner more unlikely to opt for an initial public offering for the time being. Related: Aramco’s investment in Hyundai Oilbank aimed at ...
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