South Korea

South Korea gives green light to MBK's $1.75 billion takeover of ING Life Korea

South Korea's Financial Services Commission on Wednesday cleared MBK Partners' $1.75 billion acquisition of ING Groep's Korean insurer. MBK bought 8.2 million shares in ING Life Korea.

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Australian energy firm Ambassador exits gas field stake for $42.5M

Australia-based energy company Ambassador Oil and Gas Ltd has sold its 52.5% stake in South Australia's Cooper Basin, a potential gas field, to New Standard Energy Ltd for USD42.5 million.

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Hong Kong's Gaw Capital eyes USD1-billion overseas acquisitions

Hong Kong-based private equity firm Gaw Capital Partners is set to purchase minority stakes in four commercial property acquisitions in the UK and the US, in a deal with a total value of USD1 billion.

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Punishment looms for Goldman Sachs Group Inc's S.Korea unit

The Financial Supervisory Service of South Korea told Bloomberg it plans to punish the local unit of Wall Street firm Goldman Sachs Group Inc for breaking rules on the sale of financial products.

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US ranks 31st in Internet speed list, nationwide Google Fiber network to cost USD11 billion

According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.

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South Korean government upsizes IBK block sale to USD250 million

The government of South Korea has increased the offering size for a part of its stake in Industrial Bank of Korea (IBK) to USD250 million. Its finance ministry will be selling 23.24 million shares instead of the initial 13.16 million shares.

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EU lifts ban on tankers transporting Iranian crude

Following a nuclear deal reached in Geneva, the European Union has removed the ban on insuring tankers transporting Iranian oil. The EU also agreed to release USD4.2 billion in frozen oil assets and permit Iranian crude exports to continue at its current levels.

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Lloyd's Register director says South Korea is a possible investor in Britain's nuclear industry

South Korea was reported to be a possible investor in Britain's nuclear power market after the Asian country hired Lloyd's Register to evaluate its nuclear reactors, according to a director at Lloyd's.

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Secured Capital closes USD1.5 billion for Asian investments

Japan-based Secured Capital, the real estate arm of private equity firm PAG, raised USD1.5 billion to invest in real estate and debt opportunities in Asia.

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South Korean firms enter into joint venture projects with Arabtec

GS Engineering and Construction and Samsung Engineering form joint ventures with Arabtec separately.

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Woori share values fall again

Woori Finance Holdings Co.'s share values fell by nearly 3% to KRW12,000 per share.

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South Korea's Financial Supervisory Service investigates Goldman Sachs

Goldman Sachs, as well as a number of hedge funds or investment firms, is subject of a review by Korean regulators for compliance with local laws.

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Currency swap between South Korea and UAE finalized

The Bank of Korea recently announced a USD5.4 billion currency swap deal with the United Arab Emirates for a period of three years.

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US, South Korea consider delay of US wartime command to SoKor's troops

US and South Korea discussed the possibility of delaying wartime control transfer to South Korea's troops amidst fears of North Korea's weapons of mass destruction capabilities.

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Boeing is possible winner for South Korea fighter jet tender- source

Boeing may well be the winner of the KRW 8.3 trillion or USD 7.7 billion South Korea fighter jet tender, a source told Reuters.

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