Lotte General Insurance Shifts to Public Auction After Failed Negotiations With Shinhan Finance

According to South Korean investment banking sources on July 29, JKL Partners, the majority shareholder of Lotte General Insurance through a private equity fund, will launch a public auction process by end of August. The decision marks a shift from exclusive negotiations with Shinhan Financial Group, which stalled over valuation differences. JKL had sought approximately 1 trillion won, while Shinhan demanded a lower price in the 800 billion won range to meet its capital ratio targets outlined in its April 'Value Up 2.0' plan.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments