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The Korea Herald

Deals

November 20, 2019
Hong Kong-based PEF PAG to acquire Grand Hyatt Seoul

Hong Kong-based private equity firm PAG will acquire Grand Hyatt Seoul, according to sources Nov. 20. The five-star hotel, which opened in 1978, is located in Yongsan District and has 615 rooms, with several food and beverage outlets. Established in 2002, PAG is one of Asia’s leading investment ...
November 19, 2019
Korea Investment Holdings to climb down to Kakao Bank minority shareholder

Seoul-based Korea Investment Holdings plans to transfer its stake in South Korea’s leading neobank, Kakao Bank, to its subsidiary Korea Investment Value Asset Management and internet giant Kakao , the company said in regulatory filings on Nov. 19. The investment bank-led financial group’s ho...
November 18, 2019
CJ CGV to raise $286m from MBK-Mirae consortium in Asian operation revamp

South Korea’s cinema chain CJ CGV said Nov. 18 its Hong Kong-based subsidiary has agreed to raise $286 million from a consortium of private equity firm MBK Partners and investment bank Mirae Asset Daewoo. This came in a move to turn the subsidiary into a holding company that controls its Asian ...
November 15, 2019
CJ denies rumors it plans to sell Olive Young for W500b

South Korea’s food-to-entertainment conglomerate CJ Corp . said Nov. 15 that it has no plans to sell its health and beauty subsidiary, CJ Olive Young, which runs a chain of drugstores. “We are not considering selling (our) stakes in CJ Olive Young, so we would like to clarify that the recent n...
November 14, 2019
Crane maker Kanglim to buy underwear brand Namyeung Vivien’s majority stake for W53.8b

Kanglim , a Korean manufacturer of cranes and other material handling equipment, said Nov. 13 it would buy a controlling stake in women’s underwear maker Namyeung Vivien ’s for 53.8 billion won ($46 million). Men’s underwear maker SBW had walked away from such an acquisition deal. SBW too...
November 12, 2019
KEB Hana becomes 2nd-largest shareholder of BIDV

KEB Hana Bank said Nov. 11 that it has become the second-largest shareholder of Bank for Investment and Development of Vietnam, the Southeast Asian country’s largest bank by assets. South Korea’s third-largest commercial bank said it has agreed to buy 15 percent or 603 million new shares in BIDV...
November 12, 2019
HDC-led consortium close to controlling Asiana Airlines

A consortium led by Hyundai Development Co. , has been selected as the preferred bidder for purchasing majority stake in Asiana Airlines , its largest shareholder Kumho Industrial said Nov. 12. The consortium, comprising real estate developer and investment bank Mirae Asset Daewoo , is inc...
November 11, 2019
Kendall Square acquires Amazon logistics center in Prague

Kendall Square Asset Management has acquired Amazon’s logistics center in Prague, a local business daily reported Nov. 11. “The company paid 180 billion won ($155 million) for the logistics center located 4 kilometers away from Prague’s international airport,” Kendall Square CEO Kim Koo-young ...
November 11, 2019
Korea discount resurfaces as cable TV deal snubs minority shareholders

South Korea’s antitrust watchdog Fair Trade Commission on Nov. 8. gave the greenlight for LG Uplus ’ takeover of cable TV operator CJ Hello , enabling the mobile carrier to capitalize on its pay-TV portfolio and putting the final decision in the hands of the ICT Ministry and the Korea Communi...
November 10, 2019
FTC gives conditional approval to telecoms' M&As as competition heats up

The Fair Trade Commission said Nov. 8 that it has conditionally approved two separate merger and acquisition deals, one led by SK Telecom and the other by LG Uplus , reshaping the local pay TV industry as it is already undergoing a major transformation toward digital services. The decision cle...
November 06, 2019
Macquarie PE chosen as preferred bidder for LG CNS

Macquarie PE, a global private equity fund operator, has been chosen as the preferred bidder in the race to acquire LG CNS, an IT system unit of LG Group. In the bid that other global heavyweights such as Kolberg Crabis Roberts also participated in, LG Group, the majority shareholder, and lead dea...
November 05, 2019
Hyundai Oilbank expected to emerge as the second-largest player

Based on the earnings of SK Networks’ gas station business last year, it may appear to be an unattractive deal to buy it for as much as 1.5 trillion won ($1.29 billion). The business unit only made 20 billion won in operating profit last year with sales of 1.4 trillion won. GS Caltex, the largest...
November 04, 2019
S. Korean PEFs join final bid for SKC Kolon PI’s controlling stake

South Korea’s private equity firms have joined a final bidding round for SKC Kolon PI ’s controlling stake Nov. 4 amid market concerns about overpricing. Those joining the round include Hahn & Co. and Glenwood Private Equity, according to industry sources. MBK Partners, Korea’s largest PE fir...
November 04, 2019
Macquarie to acquire Daesung Industrial Gases from MBK: reports

Australian private equity fund Macquarie is poised to acquire South Korea’s Daesung Industrial Gases from MBK Partners, local business newspaper Hankuk Business Daily reported on Nov. 3. Macquarie is set to buy 100 percent in the gas company for about 2.5 trillion won ($2.15 billion), the report ...
November 01, 2019
HLB to inject $161m in US unit for indirect merger with Elevar

Ulsan-based lifeboat maker HLB said Nov. 1 it will inject $161 million into its wholly-owned US subsidiary HLB USA by Nov. 5. This is part of HLB USA’s planned merger with Salt Lake City-based biopharma firm Elevar Therapeutics, another HLB subsidiary formerly known as LSK BioPharma until Septe...

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