Vogo takes control in Korea’s Tong Yang
Vogo Fund, a leading private equity firm in South Korea, has acquired an additional 46.5% stake in Tong Yang Life Insurance from mid-sized local conglomerate Tong Yang Group for KRW900 billion ($798 million).
The group paid KRW18,000 ($15.98) per share. Vogo now holds a controlling stake of 63.5%. According to the firm, one-third of the deal amount, or $266 million, will be leveraged through acquisition financing....
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