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The Korea Herald

Deals

October 06, 2019
HHI-DSME merger faces growing opposition from workers

Hyundai Heavy Industries has been grappling with growing opposition from workers against a merger with Daewoo Shipbuilding & Marine Engineering . In March, HHI signed a formal deal, worth an estimated 2 trillion won ($1.7 billion), with the state-run Korea Development Bank to buy its smaller ri...
October 01, 2019
Hahn & Co. closes biggest Korea-focused fund

South Korea’s private equity firm Hahn & Co. said on Oct. 1 it has closed Fund III at $3.2 billion -- the largest fund focused solely on Korean companies to date. It comprises a flagship fund of $2.7 billion and companion $500 million co-investment fund. The addition brought Seoul-based Hahn & C...
September 30, 2019
Sungdong Shipbuilding embarks on 4th sell-off attempt to shun liquidation

Indebted South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering on Sept. 30 kicked off its fourth attempt to sell, in a move to shun looming liquidation before the end of 2019. The Tongyeong-based company’s existing stake and newly-issued shares, plus two additional shipyards, which ...
September 30, 2019
BK’s Bithumb deal on verge of collapse

A deal to sell Bithumb, South Korea’s largest cryptocurrency exchange, is at the risk of falling apart one year after the decision to sell it, industry sources said Sept. 30. BTC Korea Holdings, which operates Bithumb and owns a 76 percent stake in the exchange, on Oct. 12 last year said that it ...
September 30, 2019
KDB to sell life insurance unit

South Korea’s state-run policy lender Korea Development Bank said Sept. 30 it plans to sell its majority stake in a life insurance unit by 2020 through an open tender. This is the fourth time it is attempting to sell its stake. Some 88 million common shares of KDB Life Insurance owned by KDB thro...
September 26, 2019
BWTS firm Techcross buys 100% stake in LG’s water treatment units

Busan-based ballast water treatment system company Techcross bought the entire stake in both LG conglomerate’s land-based water treatment units LG-Hitachi Water Solutions and HiEntech for an undisclosed amount on Sept. 26. The two companies were reportedly valued at roughly over a combined 250 bi...
September 25, 2019
Fubon Life to buy 4% Woori Financial stake for W358.5b

Taipei-based Fubon Life Insurance agreed on Sept. 25 to buy a 4 percent stake in Woori Financial Group through a block deal for 358.5 billion won ($298.9 million). Some 28.9 million shares, currently owned by the financial group’s commercial banking subsidiary Woori Bank, will be trading at 12,...
September 25, 2019
Roundtable nudges Korean firms into cross-border M&As to fight trade spat with Japan

A roundtable comprising business associations, trade agencies and financial institutions in South Korea on Sept. 25 recommended a potential list of foreign companies whose shares are potentially up for sale. The event, held at the headquarters of Korea Financial Investment Association, was aimed a...
September 19, 2019
Korea Investment and Securities to buy building on 195 Broadway

Korea Investment and Securities is buying a 102,000-square-meter commercial building located on Broadway in Manhattan for 600 billion won ($501 million). The securities firm and Samsung Asset Management agreed to buy the building from JPMorgan’s asset management arm, which owns a 95 percent sta...
September 18, 2019
Sae-A to acquire fiberboard maker Tailim Packaging

South Korean clothing manufacturer Sae-A Trading was picked as the preferred bidder for the country’s largest corrugated fiberboard makers Tailim Packaging and Tailim Paper, according to IMM PE, the largest shareholder that is selling them in a bundled deal, on Sept. 18. Sae-A is expected to pay ...
September 11, 2019
Personal hygiene goods maker KleanNara denies stake sale rumor

KleanNara , Seoul-based personal hygiene goods maker, denied on Sept. 11 rumors that its owner family, including the largest stakeholder Choi Jung-kyu are looking to sell their stake in the company. “We have inquired with our largest shareholder about the stake sale rumor and would like to annou...
September 03, 2019
Lotte Corp. sells BNK stake to Hotel Lotte Pusan

South Korean-Japanese conglomerate Lotte’s Seoul-based holding firm Lotte Corp. sold off its 2.76 percent stake in BNK Financial Group to Hotel Lotte Pusan, BNK said in a regulatory filing on Sept. 3. Some 9 million shares of BNK Financial were handed over to Hotel Lotte Pusan in return for 6...
September 03, 2019
Aekyung, HDC, KCGI join bid for Asiana acquisition

Aekyung Group and two consortia, one involving private equity firm Korea Corporate Governance Improvement and the other led by real estate developer Hyundai Development Company , have reportedly joined the preliminary bidding round for Seoul-based air carrier Asiana Airlines on Sept. 3. The en...
September 03, 2019
SK Discovery closes merger with SK Syntec

SK Discovery completed a merger with its wholly owned subsidiary SK Syntec on Sept. 2, according to a regulatory filing. Under the deal, management consulting firm SK Syntec merged with its parent firm SK Discovery. SK Discovery’s assets jumped to 1.4 trillion won ($1.1 billion) from 1.2 trillio...
September 02, 2019
KG acquires 40% stake in Dongbu Steel

KG Group has become the biggest shareholder of Dongbu Steel as its joint venture KG Steel took control over its newly issued 40 percent stake, according to a regulatory filing Sept. 2. The steelmaker -- which got a new name KG Dongbu Steel -- said KG Steel, held equally by KG Corp., KG Eco Tech...

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