South Korea
Hana's board approves $3.5b KEB purchase
Hana Financial Group has approved a plan to acquire the 51% stake in Korea Exchange Bank (KEB) held by US buyout fund Lone Star for KRW3.92 trillion ($3.5 billion). Pending regulatory approval, the transaction could be completed by the year’s end, signaling...
Update: Lone Star may sell KEB for 11% less
Lone Star is reportedly looking to sell its stake in Korea Exchange Bank (KEB) to Hana Financial Group at an 11% discount to its previously discussed price of KRW4.4 trillion ($3.8 billion). That price is a further reduction on the 7% discount reported...
Apollo sells Parallel Petroleum to South Korean trade buyers
New York-based Apollo Global Management has reportedly sold its US oil and gas company Parallel Petroleum to two South Korean trade buyers for $780 million.
Lone Star may sell KEB for 7% less - report
Lone Star is reportedly nearing the sale of Korea Exchange Bank (KEB) to Hana Financial Group at a 7% discount to the KRW4.4 trillion ($3.8 billion) offer price. If agreed, the move would highlight the pressure that embattled Lone Star faces to offload...
Korean regulators to investigate KEB
South Korean regulators have launched a probe into the inside operations of Korea Exchange Bank (KEB) to ensure that the lender complied with court orders to fire members of its board related to embattled owner Lone Star.
Lone Star ordered to sell down KEB stake within six months
Lone Star has been ordered to sell down the majority of its 51% stake in Korea Exchange Bank (KEB), South Korea’s sixth-largest bank by assets, to 10% or less within six months. This has reportedly prompted US-based Lone Star to seek out buyers as its...
Kumho Industrial to sell assets to private equity
South Korean construction and transportation firm Kumho Industrial is reportedly looking to divest KRW1 trillion ($884.5 billion) worth of assets to approximately 10 private equity funds.
Update - MSPEA buys restaurant manager Nolboo
Morgan Stanley Private Equity Asia (MSPEA) has completed its first acquisition in Korea since seeing the departure of four key executives nearly 18 months ago, closing a transaction that has garnered praise from industry peers but also raises questions.
Samsung Ventures invests in digital TV ad platform YuMe
Samsung Ventures, the VC investment arm of Korea’s Samsung Group, has participated in a $12 million funding round in US-based YuMe, a digital video advertising platform.
MBK among bidders for GS Caltex stake - report
Approximately 10 companies, including trade players and Korean private equity firm MBK Partners, have reportedly submitted bids to acquire a 50% stake in South Korean oil refiner GS Caltex Corp. in a deal that could be worth KRW300 billion ($263.9 million).
Samsung’s MRO sale flatters to deceive
Online shopping mall Interpark’s purchase of iMarketKorea from Samsung Group last week might be described as the deal that failed to live up to first impressions.
Morgan Stanley PE acquires Korean restaurant chain
Morgan Stanley Private Equity Asia (MSPEA) has acquired an undisclosed majority stake in Korean restaurant chain Nolboo.
Carlyle poaches Affinity MD to head up Korea operations
The Carlyle Group has appointed Sanghyun Lee as managing director with responsibility for the private equity firm’s South Korean investment activities. Lee joints from Affinity Equity Partners, where he also served as Korea-focused managing director....
Interpark-led consortium buys iMarketKorea for $378m
A consortium led by Interpark, the Korean online shopping mall operator, has agreed to purchase Samsung Group’s procurement arm iMarketKorea in a deal worth more than KRW422 billion ($378.4 million). Private equity firm H&Q and the Korea Venture Business...
Vogo to sell down part of its Tong Yang Life Insurance holding
Vogo Investment is planning to sell down part of its 61% stake in Tong Yang Life Insurance, a subsidiary of mid-size South Korean conglomerate Tong Yang Group.
Asia ex-Japan pension fund assets to reach $4t by 2015
Assets held by pension funds in Asia ex-Japan and Australia stood at $2.2 trillion at the end of last year and are set to reach $4 trillion by 2015, largely fueled by an expanding middle class.
Lone Star may be told to sell down KEB stake next month - report
South Korean regulators may order Lone Star to sell down its 51% stake in Korea Exchange Bank (KEB) to less than 10% next month. The move comes after the US private equity fund was found guilty of manipulating KEB’s stock price ahead of purchasing the...
Korea Post unit looks to invest in global secondary funds
Savings Bureau of Korea Post, one of South Korea’s largest state-controlled institutional investors, is looking to invest at least $30 million in a global secondary fund. It represents one of the savings bureau’s first forays into alternative investments...
PE firms lose out in bid for Samsung’s procurement arm
Online shopping mall operator Interpark has been named the preferred bidder for Samsung Group’s procurement arm iMarketKorea, beating private equity bidders including KKR and MBK Partners. The Interpark was previously said to be leading a consortium...
Hana denies asking Lone Start to cut KEB sale price
Hana Financial Group has denied reports that it had asked Lone Star to cut the $4.16 billion acquisition price for Korea Exchange Bank (KEB) by one fifth. It was claimed that the US private equity firm responded by threatening to walk away from the deal...
KKR, MBK bid for Samsung’s procurement arm
KKR and MBK Partners are among the bidders for a majority stake in iMarketKorea, Samsung Group’s procurement arm. Based on Tuesday’s closing share price, the asset is worth KRW372 billion ($326 million).
Lone Star has six months to reduce KEB stake
Lone Star may have no more than six months to reduce its stake in Korea Exchange Bank (KEB) to 10% or lower after Korea’s Financial Services Commission said Monday that it had begun the process of ordering a divestment. The move comes in response to...
Lone Star decides against Korean court appeal - report
Lone Star has reportedly decided against appealing a Korean court’s ruling that it should pay KRW25 billion ($21 million) for manipulating the stock prices of the Korea Exchange Bank in 2003.
Standard Chartered backs South Korea’s Daelim Motor
Standard Chartered Private Equity (SCPE) has agreed to invest $61 million in Daelim Motor, South Korea’s leading motorcycle and auto parts manufacturer. The private equity firm will take a stake of unspecified size by subscribing to new shares in the...