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South Korea’s retail firm E-Land World is set to sell its subsidiary K-Swiss to a Chinese sports brand six years after it purchased the US company, industry sources said on April 10. E-Land World is scheduled to sign a stock purchase agreement with Xtep this month for about 300 billion won ($262 ...
As the mergers and acquisitions market went on a record run in South Korea last year, signs of shifting sands are fleshing out in the market, according to top attorneys specialized in the field. Korea’s M&A deals topped $53.1 billion in 2018, the highest annual figure as per data of Mergermarket ...
Woori Financial Group said on April 8 it acquired China-based Anbang Insurance Group’s local subsidiaries in South Korea -- Tongyang Asset Management and ABL Asset Management -- its first acquisitions as a holding company. Woori Financial signed a share purchase agreement for the two asset manage...
A consortium led by chemical-to-financial conglomerate KG Group has become the preferred bidder to buy Dongbu Steel , a sign that the debt-ridden steelmaker will end its loan workout on schedule after five years, according to a disclosure issued April 4. Related: Steelmakers shun bid for debt-s...
The financial strain on family-owned conglomerate Woongjin Group is intensifying due to its takeover of water purifier rental firm Coway that involved huge loans. The group is now suffering from a worsening balance sheet and faces the possibility of credit ratings cuts, according to sources. To ...
Woori Financial Group announced on April 3 that it has signed a memorandum of understanding with family-owned Kukje Trust’s major stakeholders to acquire it. Related: NongHyup may vie with Woori for Kukje Trust: sources Woori Financial to acquire two Anbang-owned AMCs Woori Financial poised f...
Woori Financial Group, one of South Korea’s five financial holding companies, is poised to become the new owner of Tongyang Asset Management and ABL Asset Management, subsidiaries of two Anbang Insurance Group-owned insurance companies, industry sources said on March 22. Woori has been selected a...
Woori Financial Group and NongHyup Financial Group may end up vying to acquire Kukje Trust as both are looking to add a property asset trust arm. Woori, which reintroduced a holding company structure this year, has officially acknowledged that it is hoping to snap up a majority stake in Kukje as a...
For decades, lawyer Yoon Hee-woong has built his career providing legal advice for corporations. Since joining the South Korean law firm Yulchon in 2000, he has been paving the way for large business groups to take over financial companies, especially in the wake of the global financial crisis in ...
LG Electronics CEO Jo Seong-jin recently conceded that as a newcomer in the mergers and acquisitions market in 2015, the firm had a tough time acquiring a stake in family-owned Austrian headlight maker ZKW Group. After years of negotiations, the tech giant and its holding firm LG Corp . were fi...
South Korean hypermarket chain Homeplus announced on March 14 that it had withdrawn plans to list its real estate investment trust to raise up to 1.7 trillion won ($1.50 billion). Related: Homeplus’ REIT listing to attract foreign investors Homeplus cited a lukewarm response from institutional ...
Two years after Iran’s South Kaveh Steel stopped short of acquiring Dongbu Steel , shareholders of the debt-ridden steelmaker are hoping for another chance to exit. On March 4, the bidding for Dongbu Steel closed, with entities like chemical-to-financial conglomerate KG Group and private equity...
Seoul-based IMM Private Equity has agreed to buy a 100 percent stake in Linde Korea for roughly 1.3 trillion won (US$1.15 billion), according to industry sources on March 8. Related: Macquarie, IMM shortlisted for acquiring Linde Korea Under a sale and purchase agreement between IMM PE and Linde...
Kyobo Life Insurance, South Korea's third-largest life insurance firm, denied rumors on March 7 that Chairman Shin Chang-jae is considering selling off stakes held by him and financial investors to a Korean banking group, calling it a possible breach of trust. “The stake sell-off rumors are total...
Mergers and acquisitions by Korean firms rose in 2018 from a year earlier as they sought to realign their business portfolios and find new growth engines, the antitrust watchdog said on March 5. The number of mergers came to 570 in 2018, up from 514 in 2017, but their combined value fell to 43....
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