[THE INVESTOR] Music portal service provider Bugs, a subsidiary of NHN Entertainment, will take over HOW Entertainment, it announced on Aug. 31.Bugs will acquire 70 percent stake in the entertainment company for 11 billion won (US$9.82 million), with 11,951 existing shares and 6,390 shares to be issued for capital increase, to diversify its business to cover K-pop contents production, distribution and consumption.HOW Entertainment was established in September 2015 and represents artists such as

Aug. 31, 2016

[THE INVESTOR]  Four candidates have been named preferred bidders to take over Hollys F&B that operates coffee shop franchise Hollys, according to news reports on Aug. 30.Out of eight that participated in the preliminary bid, the largest shareholder IMM Private Equity and the sales manager Deutsche Bank have short-listed four, including US private equity fund management giant Carlyle, as well as two companies and one local PEF. The bidding price suggested by the hopefuls is above 200 billion won

Aug. 31, 2016

[THE INVESTOR] Four South Korean insurers including Hanwha Life Insurance have invested a combined 200 billion won (US$178.57 million) in Google’s office building in California, US, according to news reports on Aug. 31.Related article : Institutional investors show growing appetite for overseas property mezzanine debtThey have joined hands with Hyundai Asset Management on condition of purchasing a senior loan with the Silicon Valley building as a collateral, with an expected 4 percent annual rat

Aug. 31, 2016

[THE INVESTOR] Chinese insurance company Anbang has sought the Financial Services Commission’s approval for acquiring Allianz Korea, the top financial regulator announced on Aug. 30. This comes after Beijing’s approval for the acquisition, according to Herald Business. Anbang Insurance had signed a stock transfer agreement with Germany’s Allianz Group to take over its South Korean unit for US$3 million in April.  Anban Insurance headquartersFor almost five months, though, it did not submit its q

Aug. 30, 2016

[THE INVESTOR] Korea Electric Power Corp. has signed a US$39 million agreement with the Dominican Republic on Aug. 29 in Santo Domingo, it announced on Aug. 30.The deal covers installing and replacing the distribution network across the Central American country, and the South Korean state-owned company will cover the whole process from planning to execution.  KEPCO CEO Cho Hwan-eik (third from the right) and Dominican President Danilo Medina Sánchez (third from the left). KEPCOAs small and mediu

Aug. 30, 2016

[THE INVESTOR] Green Cross has decided to introduce its quadrivalent flu vaccine in the US, according to news reports on Aug. 30.In 2015, the pharmaceutical company won approval for its GC Flu Quadrivalent, the first is Asia and the fourth worldwide flu vaccine that covers four strains of influenza -- two influenza A strains (H1N1, H3N2) and two influenza B strains (Yamagata, Victoria) -- with a single vaccination.Green Cross currently exports trivalent flu vaccine to 30 countries but has not be

Aug. 30, 2016

[THE INVESTOR] Korea Development Bank has selected Samjong KPMG as the lead manager to sell off its entire stake in steel manufacturers Haewon ST and Haewon MSC, according to a report by Korea Economic Daily on Aug. 30. Samjong will accept letters of intent by Sept. 2 and will name candidates on Aug. 5. The bank owns 9.05 percent stake (2,730,857 shares) in Haewon ST and 9.13 percent stake (238,760 shares) in Haewon MSC, acquired in 2010 in a debt-equity swap as part of a workout process. Korea

Aug. 30, 2016