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The Korea Herald

Deals

August 01, 2019
Innocean to buy 85% stake in Melbourne-based Wellcom for $160m

South Korean advertisement agency Innocean Worldwide said in a disclosure on July 31 it had agreed to buy a 85 percent stake in Australian marketing firm Wellcom Group for 225.9 million Australian dollars ($155.7 million). The Seoul-based company will use its cash reserves to acquire the 33.7 mi...
July 31, 2019
SK Networks, Haier, Carlyle join bid to acquire Coway

Seoul-based trading company SK Networks , Qingdao-based consumer electronics maker Haier and US private equity The Carlyle Group have joined the preliminary bidding to acquire 25.08 percent stake in water purifier rental company Coway , according to industry sources on July 31. They are among ...
July 28, 2019
Hahn & Co. cleared of tax evasion allegations, but Lotte Card deal off

The Seoul Central District Prosecutors’ Office has dismissed allegations that an executive in private equity firm Hahn & Co., had evaded taxes. The decision, however, is unlikely to salvage the botched Lotte Card acquisition plan by Hahn & Co. Related: Lotte to sell 79.8% stake in Lotte Card to...
July 26, 2019
Woori Financial acquires Kukje Asset Trust

Woori Financial Group, one of South Korea’s five financial holding companies, acquired Kukje Asset Trust, the group said on July 26. It is buying a 65.7 percent stake in the real estate management firm from major shareholders, including Kukje Asset Trust Chairman Yoo Jae-eun. This marks Woori’s...
July 25, 2019
S. Korean VC-backed NeuroBo merges with Nasdaq-listed Gemphire

Boston-based NeuroBo Pharmaceuticals, which is backed by a South Korean venture capital firm, said July 25 that it is merging with Nasdaq-listed Gemphire Therapeutics. Gemphire is a clinical-stage biopharmaceutical company focused on developing therapies for the treatment of dyslipidemia as well ...
July 23, 2019
Underwear maker Namyeung Vivien on sale, stock price soars

Namyeung Vivien, a 62-year old local underwear maker, saw its shares surging on July 23 following news that the company is up for sale. Shares in the Kospi-listed company rose by a daily limit of 30 percent to 9,170 won in morning trade. The company logged an operating loss of 3.9 billion won ($3...
July 11, 2019
Hanwha Systems to invest $25m in US firm

Hanwha Systems, a defense unit of defense and chemical conglomerate Hanwha Group, said on July 11 it will invest $25 million in a US personal air vehicle company to expand its business portfolio. The investment in K4 Aeronautics is part of its moves to preemptively respond to potential demand f...
July 02, 2019
Mirae Asset emerges as top bidder for Indian commercial property

Mirae Asset Global Investment, a unit of Mirae Asset Financial Group, has emerged as the top bidder for an 8-story commercial building in India by offering 4.13 billion rupees ($59.88 million), industry sources said on July 2. Mirae Asset was among 18 bidders for the building, in Mumbai City, whic...
July 02, 2019
Kidari Studio buys 20.9% stake in French webtoon firm Delitoon

Seoul-based online content company Kidari Studio will buy a 20.9 percent stake in French webtoom firm Delitton for 2.3 billion won ($2 million). The cash payment will be completed by July 30. Once the transaction is completed, Kidari Studio will hold 60.2 percent of the French company, according...
June 25, 2019
Deloitte Anjin stresses PE’s role in portfolio value creation

Seoul-based accounting firm Deloitte Anjin stressed the role of South Korean private equity houses in creating new value as uncertainties surface in the domestic merger and acquisition market. “PEs are expected to take lead roles in Korea’s M&A market growth this year, because strategic investor...
June 10, 2019
Hanwha Aerospace to acquire EDAC Technologies for $300m

South Korean aviation firm Hanwha Aerospace said on June 10 that it will take over the entire stake of US aircraft engine manufacturer EDAC Technologies from Greenbriar Equity Group for 351.6 billion won ($297.2 million). The acquisition will be complete by end-2019, on the premise of approval fro...
June 05, 2019
Creditors to finalize debt workout for Dongbu Steel

The main creditors of South Korean steelmaker Dongbu Steel have agreed on 360 billion won ($305.4 million) investment from a KG Group-led consortium, preceded by a share capital reduction and debt-to-equity swap. According to a disclosure on June 5, the bondholders of Dongbu Steel agreed to issu...
June 04, 2019
Hyundai Rental Service to raise W10b from Hana Financial

Hyundai Rental Service has decided to raise 10 billion won ($8.5 million) from subsidiaries of Hana Financial Group, the banking giant said on June 4. Hana Ventures, a corporate venture capital arm of Hana Financial Group, will invest in the corresponding amount of redeemable convertible preferenc...
June 03, 2019
Nexon deal attracts 5 final bidders after delays

Five companies including Kakao and Netmarble have joined the final bid for game giant Nexon, industry sources said on June 3. The bid to buy a majority stake in NXC, the holding company of Nexon Japan, has also attracted Seoul-based MBK Partners, KKR and Bain Capital. All five participated in the ...
June 03, 2019
DGB dividends expected to rise after sale of financial arms

DGB Financial Group’s dividend per share is expected to rise following the sale of its indirect subsidiaries Hi Asset Management and Hi Investment & Futures, analysts said on June 3. Its potential nonoperating income from the sell-off in the third quarter, estimated at a combined 106.2 billion wo...

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