Lotte Fine Chemical seeks new owner for solar power components maker

[THE INVESTOR] Lotte Fine Chemical will begin the process of selling the solar power generation materials maker SPM, finance industry sources said July 27.They noted that Deloitte Anjin will announce the sale during the week and begin seeking a buyer. Lotte Fine Chemical holds 15 percent of SPM, which was founded as a joint venture between US’s SunEdison and Samsung Fine Chemical. Lotte Fine Chemical was established by Lotte Group by acquiring Samsung Fine Chemical. By Choi He-suk (cheesuk@heral

July 27, 2016

Sampyo Group’s 3 affiliates to go public

[THE INVESTOR] Three affiliates of Sampyo Group are planning initial public offerings on Seoul’s main bourse before the group floats its own shares, sources said on July 21. The key affiliates -- Sampyo P&C, Sampyo E&C and Sampyo Industry -- are looking at listing as a way to boost the group’s market value by raising funds. According to investment bank officials, Sampyo Group, a holding firm, sent out a request for proposals to seven brokerage houses to hire underwriters for the three IPOs.Sampy

July 21, 2016

Coway’s search for new owner backfires

[THE INVESTOR] Coway, Korea’s top water purifier rental service firm, is facing setbacks in its search for a new owner as its stock price continues to fall amid concerns about its products containing toxic chemicals. The share price closed at 90,100 won (US$78) on July 20, which compares to 107,500 won on July 1 before nickel was detected in some of its products. Fueling public anger, the company was found to have hid the fact over the past year without informing customers. The company apologize

July 21, 2016

Chinese firms line up for Korean insurer ING Life

[THE INVESTOR] The sale of South Korean insurance firm ING Life Korea, which may be worth up to 3 trillion won ($2.62 million), has drawn attention from Chinese buyers, sources said on June 20. Hong Kong-based private equity firm JD Capital, leading investment group Fosun and Taiping Life are in negotiations or conducting due diligence on the Korea’s fifth-largest insurance company by assets. Asian buyout firm MBK Partners plans to sell its stake in ING Life Korea by the end of this year by comm

July 20, 2016

Kiwoon Securities to acquire TS Bank

[THE INVESTOR] Kiwoom Securities will acquire a Seoul-based savings lender TS Bank to expand its revenue sources, the Korean brokerage firm said on July 20. Kiwoom plans to buy the entire stake -- 2 million shares -- in TS Bank for 88.5 billion won (US$77.52 million), according to the firm’s regulatory filing. Currently, TS Bank runs two branches in Yeoksam and Yeouido, Seoul. Kiwoom said the acquisition plan aims at “increasing revenue by entering the savings banking business.” The deal is the

July 20, 2016

E-Land plans to add rental costs to Kim’s Club takeover deal

[THE INVESTOR] E-Land Group is in the final stages of negotiations with US private equity giant KKR to include the rental costs of its local retail chain Kim’s Club branches to a deal to sell over 70 percent stake in the hypermarket, according to sources on July 19. E-Land is pushing KKR, which was picked as the preferred bidder to acquire Kim’s Club in late March, to pay some 100 billion won (US$87.60 million) for five years of rental costs of the hypermarket franchise’ 37 branches in advance,

July 19, 2016

Hollys Coffee put up for sale

[THE INVESTOR] Korea’s IMM Private Equity, the largest shareholder of local coffee franchise Hollys Food and Beverage, operator of the namesake specialty coffee chain, has decided to sell its entire controlling stake. According to industry sources on July 15, investors are showing keen interest in acquiring the popular coffee chain with more than 500 stores nationwide. Daesang Group, Carlyle Investment Management and several Chinese financial investors are cited as potential bidders. Hollys Coff

July 15, 2016

HHIC Holdings kicks off sale of 3 energy subsidiaries

[THE INVESTOR] Hanjin Heavy Industries and Construction Holdings on July 13 began the process of selling three energy-related subsidiaries. The companies -- Daeryun Power, Byeollae Energy and Daeryun E&S -- are to be sold as a bundle, and the sale will be conducted by Mirae Asset Daewoo. Hanjin Heavy's Subic ShipyardHHIC Holdings and Daeryun E&S each hold 29.17 percent and 50 percent in Daeryun Power and Byeollae Energy, respectively. Daeryun E&S, a gas supplier, is 100 percent owned by HHIC Hol

July 14, 2016

Hyundai Heavy's sale of HI Investment face rocky start

[THE INVESTOR] Hyundai Heavy Industries Group’s plans for selling off HI Investment & Securities could be getting off to a rocky start with potential buyers taking a reserved approach. The sale is part of the shipbuilding conglomerate’s restructuring plans, and while a number of securities firms have been listed as potential buyers, their response so far has been lukewarm. The group holds 85.3 percent of Hi Investment & Securities through Hyundai Mipo Dockyard. Hyundai Mipo Dockyard’s largest sh

July 14, 2016

MBK Partners recoups record US$3.3b from investments

[THE INVESTOR] MBK Partners has recouped a record amount from its investments over the past two years since July 2014, industry sources said on July 10.Since June 2014, MBK Partners -- South Korea’s largest PEF -- managed to recoup US$3.3 billion by selling equity and driving up dividends from its past investments. MBK Partners founder and chairman Michael Byung-ju Kim When including the returns from other projects MBK jointly invested in, such as with South Korea’s National Pension Fund, Singap

July 11, 2016