PE firms remain in the hunt for Kyobo Life
The sale of a one third interest in Kyobo Life, the smallest of South Korea’s Big Three life insurers, was always going to be a two-phase affair. The first phase – Korea Asset Management Corp. (KAMCO) exiting its 9.9% stake in the company – is now all but over.
The second phase, which will see Posco-owned Daewoo International sell off a 24% holding, is still very much alive. "The Daewoo process is much more involved than KAMCO," says one GP who participated...
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