SEOUL, Oct. 18 (Korea Bizwire) — LG Chem Ltd., a major South Korean chemicals firm, said Tuesday it plans to take over AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, for US$566 million. In a regulatory filing, LG Chem said it will invest the amount in its U.S. affiliate, LG Chem [...]
SEOUL, May 9 (Korea Bizwire) — South Korean brokerage house Hana Financial Investment Co. said Monday that it is seeking to take over affiliate Hana Bank’s subsidiary in Hong Kong as part of efforts to tap into the Asian financial hub. Hana Financial Investment is considering a plan to purchase a 100 percent stake in [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it will accelerate the review of a deal by Korean Air Lines Co., the country’s biggest carrier, to buy the debt-ridden Asiana Airlines Inc. In November 2020, Korean Air inked a deal to acquire a 63.88 percent stake in its smaller rival Asiana [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korea’s media and entertainment giant CJ ENM said Friday it has acquired a managerial stake in Hollywood studio Endeavor Content in a record 920 billion won (US$775 million) deal to strengthen its overseas business. CJ ENM purchased an 80 percent stake in the content production-distribution unit of U.S. [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it has approved a deal by E-Mart Inc., a discount store chain under Shinsegae Group, to buy the Korean unit of U.S. e-commerce giant eBay Inc. In June, E-Mart signed a deal with eBay to acquire an 80 percent stake in eBay Korea [...]
SEOUL, Oct. 29 (Korea Bizwire) — SK hynix Inc., South Korea’s second-largest chipmaker, said Friday it signed a deal to buy a local chip contract manufacturer for 575.68 billion won (US$492 million), as part of efforts to enhance its presence in the non-memory sector. SK hynix said the acquisition of Key Foundry, the 8-inch wafer [...]
SEOUL, Oct. 18 (Korea Bizwire) — POSCO International Corp. on Monday said it is in talks to take over Australian coal seam gas producer Senex Energy Ltd. Earlier in the day, Reuters reported the Australia company received a US$605 million takeover proposal from the South Korean company, the trading arm of the country’s top steelmaker, [...]
SEOUL, Nov. 16 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Monday that it will acquire Asiana Airlines Inc. in a deal valued at 1.8 trillion won (US$1.6 billion) that would create the world’s 10th-biggest airline by fleets. Korean Air plans to raise 2.5 trillion won via rights offerings early next [...]
SEOUL, Sept. 14 (Korea Bizwire) — South Korea’s top bulk carrier Pan Ocean Co. said Monday it has completed a takeover of a 36.25 percent stake in an export grain terminal on the U.S. northwest coast in an effort to expand its presence in the global market. Pan Ocean said it has purchased the interest [...]
SEOUL, July 27 (Korea Bizwire) — HDC Hyundai Development Co., a major property developer, appears to be leaning toward scrapping its plan to acquire Asiana Airlines Inc. as it demanded another round of due diligence on the carrier amid the new coronavirus outbreak, industry sources said Monday. HDC said Sunday it has sent a letter [...]