MBK, PE-backed insurers bid for ING’s Korean unit
MBK Partners, Tongyang Life Insurance and Kyobo Life Insurance have made separate bids for a controlling stake in ING Groep’s South Korean insurance business. The stake was valued at approximately $2.1 billion last year, when KB Financial Group was in talks to buy the unit.
According to Reuters, Hanwha Life Insurance, which is South Korea's second-largest insurer by assets, is also expected to submit its own bid. KB Financial dropped its bid last December, after months...
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