Gung-ho for Kyobo as buyout firms assess stake
Potential private equity buyers, specifically Affinity Equity Partners and the Carlyle Group, are doing due diligence on a potential 24% significant minority stake opportunity in Kyobo Life Insurance Co., Korea’s third-largest insurer and second-largest in the corporate pensions market, according to Korean reports.
The stake could be worth up to $697 million. The opportunity may arise as a consequence of local steel-focused conglomerate Posco’s takeover of trading company Daewoo International. Daewoo International...
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