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Despite months of back-and-forth and attempts at breakthroughs, the acquisition talks between HDC Hyundai Development Company and Asiana Airline are likely to fall apart, according to reports on Sept. 3. In an email Wednesday, the building company once again told Korea Development Bank, the airli...
KB Financial Group said on August 27 that it has received approval from the Financial Services Commission to acquire Prudential Life Insurance of Korea. In April, the South Korean financial giant, inked a deal with Prudential to buy a 100 percent stake in the insurance company for some 2.3 trill...
South Korean firm Koscom disclosed Wednesday that it plans to acquire HSBC Fund Services Korea, to dive into the asset management sector. After a year of preparation for the takeover, the company has signed an agreement with the United Kingdom-based HSBC to acquire a 92.66 percent stake in the f...
Foreign investors in two Korean companies -- Unison and Yakjin Trading -- managed to sell their stakes earlier this week, but only at significant losses, disclosures showed Aug. 25. The sale price was significantly lower than what the investors -- Japanese conglomerate Toshiba and US private equit...
Shinhan Alpha REIT rolled out plans to buy 37,600 square meters of office space in Twincity Namsan in central Seoul for 238.6 billion won ($201.6 million) from KB Asset Management, a filing showed Aug. 19. The property occupies 20 floors of the 30-story commercial building. Built in 2015 and locat...
Local brokerage firm KB Securities has acquired a distribution warehouse operated by US ecommerce giant Amazon in Edinburgh, Scotland for some 100 billion won ($84 million), according to news reports on August 18. In partnership with local investment firm LB Asset Management, the subsidiary of KB...
Both HDC Hyundai Development Company and Kumho Industrial said on Tuesday that arrangements for face-to-face negotiations over the acquisition of Asiana Airlines are ongoing, which may effectively go on after the Wednesday’s deadline. One official at Kumho confirmed that the deadline no lon...
Shinhan Financial Group, a major banking group in South Korea, has been selected as the preferred bidder for the acquisition of a venture capital company under cash-strapped conglomerate Doosan, sources said on July 29. Shinhan, a financial giant that has no venture capital unit, has been eyeing...
Samsung Asset Management disclosed Sunday it has put a merger plan with its wholly owned hedge fund subsidiary on hold. The Seoul-based asset manager that oversees 26.9 trillion won ($22.3 billion) in assets -- the most in Korea -- added it would make an announcement once the date of merger is r...
South Korean midsized builder HDC Hyundai Development Co. said Friday that it has received approval from Russian aviation authorities for HDC’s planned takeover of flag carrier Asiana Airlines, but added that renegotiation of the acquisition terms is still underway. Regarding the merger dea...
Korean private equity firm JC Partners has become a preferred bidder to buy a controlling stake in KDB Life Insurance, in policy lender Korea Development Bank’s move to exit from a troubled financial institution that has strived to turn around amid restructuring. JC Partners was the sole pa...
MP Group, the South Korean company that controls pizza restaurant franchise Mr. Pizza and coffee chain Manoffin, is seeking to sell a controlling stake through an open bidding process, its announcement showed on June 17. Up for grabs will be a 48.92 percent stake in MP Group by founder and ex-ch...
South Korean battery maker Samsung SDI said on May 29 it has started injecting capital into EcoPro EM, a joint venture with EcoPro BM, a supplier of electric vehicle battery materials to Samsung. According to Samsung SDI, it will fund a total of 120 billion won ($96.9 million) with EcoPro BM int...
South Korea’s three major telecommunications firms have submitted nonbinding indicative offers to acquire Hyundai HCN, the nation’s fifth-largest cable TV operator owned by Hyundai Department Store Group, according to industry sources on May 27. The three local firms -- KT, SK Telecom...
NH Investment & Securities, the brokerage unit of South Korea’s NongHyup Financial Group, has joined a consortium to acquire a stake in the United Arab Emirates’ state-owned Abu Dhabi National Oil Company’s natural gas pipelines, according to investment banking sources on May 1...
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