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Mirae Asset Global Investments said on Arpil 28 that it was renegotiating with China’s Anbang Insurance to delay the closing date of a $5.8 billion deal, and that it has nothing to do with problems with capital financing but is because of other requirements that remain unfulfilled. Refuting Anba...
Seoul-based consumer loan provider KB Kookmin Card said on April 27 that it had signed a deal to buy a controlling 50.99 percent stake in J Fintech, a Thailand-based personal loan provider, for 650 million baht ($20 million). This marks the first acquisition deal that allows a South Korean credit...
South Korean battery maker SK Innovation will supply electric vehicle batteries to the Beijing Automotive Industry Holding Co., or BAIC, after winning out against state-sponsored Chinese competitors. According to industry sources on April 20, the Chinese automaker’s premium electric SUV model A...
Mirae Asset Financial Group said on April 16 it has sold Nasdaq-listed German drugmaker BioNTech for $37 million, earning a hefty profit from its previous investment of $15 million. The German company is known to hold one of the three mRNA-based substance that is currently a candidate for COVID-1...
State-run policy lender Korea Development Bank is in talks with South Korea’s private equity firm JC Partners to sell a life insurer unit as part of its restructuring process, an industry source said April 14. JC Partners is the only bidder participating in the preliminary stage that is undergoi...
South Korea’s buyout fund VIG Partners said on April 10 it plans to acquire the nation’s leading funeral service firm Preedlife. While neither the acquisition price nor the amount of stake were disclosed, the transaction is expected to close in the third quarter of 2020. This comes amid the p...
Major South Korean lenders are gearing to start business in Myanmar, hoping to sustain their momentum in the Southeast Asian region. Korea Development Bank, Industrial Bank of Korea and KB Kookmin Bank obtained preliminary approval from the central bank in Myanmar earlier in the week, industry so...
Hotel Shilla, a South Korean operator of luxury hotels and duty-free shops, has closed a $121 million transaction to buy a 44 percent stake in US duty-free shop operator Travel Retail Group Holdings, known for the in-flight retailing service 3Sixty Duty Free, a filing showed on April 8. The deal,...
Aerospace and defense firm LIG Nex1 said April 3 it had acquired a 20 percent stake in Microinfinity, a domestic firm that makes navigation sensor chips for unmanned aerial vehicles. According to LIG Nex1’s business report, it converted loans made to Microinfinity into 5 million shares worth 2.5 ...
The volume of proposed mergers and acquisitions in South Korea has shrunk to about half in the first quarter of 2020, reflecting the impact of the novel coronavirus, data showed Thursday. The first quarter saw 5.23 trillion won ($4.22 billion) worth of deals announced, falling 50.6 percent on-year...
Over the past few months since the outbreak of the novel coronavirus, some employees of Hyundai Development Company, a local real estate developer under the pan-Hyundai empire, have been walking on thin ice. The market is facing a pandemic test, they said, pointing out the company’s landmark dea...
An investor group led by South Korean pulp product manufacturer Hankuk Paper agreed to buy a majority stake in Korea’s third-largest domestic industrial paper maker, Seha, for 55 billion won ($44.2 million) from Korean nonperforming loan manager United Asset Management Co., a filing showed on Marc...
An intense bidding war for the takeover of Prudential Life Insurance of Korea, valued at some 2 trillion won ($1.6 billion) kicked off early Thursday as major banking groups and private equity houses vied to get their hands on the insurer. The bid for a 100 percent stake in the insurer came as th...
South Korea introduced a law in February to support a new form of activism by “general” equity investors, enabling minority shareholders to have a say in corporate decisions. The revision of the Capital Markets Act has offered investors legal clarity in their move to boost shareholder value and ...
The owners of the Seoul Book Center -- operator of South Korea’s third-largest bookstore chain, Bandi & Luni’s -- are looking to put their stake in the company up for sale through deal manager eBest Investment & Securities, the brokerage house said on March 16. Founded in 1988, the Seoul Book C...
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