SEOUL, June 30 (Korea Bizwire) — LG Electronics Inc., South Korea’s leading home appliance maker, said Monday it has acquired a Norwegian hot water storage company to strengthen its foothold in the European air and water heating markets. The company said it acquired a 100 percent stake in OSO Group AS, a firm known for [...]
SEOUL, June 24 (Korea Bizwire) — Daemyung Sono Group virtually completed its acquisition of T’way Air Co. on Tuesday by holding an extraordinary shareholders’ meeting and appointing a new board of directors for the low-cost carrier. T’way Air held the extraordinary shareholders’ meeting at its aviation training center in Seoul and approved the appointment of [...]
SEOUL, June 23 (Korea Bizwire) — South Korean grocery delivery platform Oasis Corp. said Monday it has acquired full ownership of e-commerce platform TMON after a court approved its rehabilitation plan, which included the acquisition proposal. TMON filed for court receivership in July last year following widespread delays in payments to vendors using its platform. [...]
SEOUL, May 20 (Korea Bizwire) — A growing wave of carve-out mergers and acquisitions (M&A)—in which large corporations sell off non-core business units—is reshaping the South Korean dealmaking landscape, with private equity (PE) firms emerging as key players. According to a recent report by the Korea Capital Market Institute, domestic conglomerates are accelerating portfolio streamlining in response [...]
SEOUL, May 14 (Korea Bizwire) — Samsung Electronics has made its biggest acquisition in nearly a decade, purchasing Germany-based FläktGroup for €1.5 billion (approximately 2.38 trillion won or $1.68 billion) in a move to aggressively expand into the fast-growing global heating, ventilation, and air-conditioning (HVAC) market. The deal, announced Tuesday, positions Samsung to capitalize on soaring demand [...]
SEOUL, May 2 (Korea Bizwire) — Woori Financial Group Inc. got regulatory approval on Friday for the takeovers of two life insurance companies, on condition that the group faithfully implements its planned measures aimed at strengthening its internal control. The Financial Services Commission (FSC), the country’s financial regulator, approved Woori Financial’s takeovers of Tongyang Life [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea’s retail conglomerate Lotte Group said Friday it has picked a Hong Kong-based private equity fund for talks to sell its car rental arm for 1.6 trillion won (US$1.12 billion), marking its first major deal amid concerns over a potential liquidity crisis. Under the agreement, Lotte Group has selected [...]
SEOUL, Nov. 28 (Korea Bizwire) – With the European Union Commission granting final approval for the merger between South Korea’s two largest airlines, the nation’s aviation industry stands on the brink of a seismic shift that will create the country’s first “mega carrier.” The merger of Korean Air and Asiana Airlines promises better competitiveness through economies [...]
SEJONG, Aug. 25 (Korea Bizwire) – POSCO Future M, the battery materials arm of the POSCO Group, is set to divest its entire stake in P&O Chemical, a joint venture with OCI, effectively exiting the business. According to industry insiders, POSCO Future M’s board is expected to meet on August 26 to approve the sale of [...]
SEOUL, July 12 (Korea Bizwire) – SK Innovation and SK E&S, two key subsidiaries of the SK Group, are set to hold board meetings next week to discuss a potential merger, industry sources said on July 11. This move is part of SK Group’s ongoing business restructuring efforts and could result in the creation of a [...]