Korean Air, South Korea's flag carrier and largest airline, has put up for sale its shares in refiner S-Oil and 13 planes to raise KRW3.5 trillion. Proceeds from the deal will be used to pare its debt and provide aid to affiliate Hanjin Shipping Co.
Tags: South Korea
Marubeni divests Aussie power plant stake to South Korean buyer -source
Japan-based trading house Marubeni Corp sold its 30% interest in Australia-based Milmerran Power Station to a buyer in South Korea for under A$200 million ($179 million), according to a source familiar with the deal.
Hyundai Motor US names David Zuchowski as new chief, John Krafcik to step down by year's end
Hyundai Motor Co. on Friday named sales chief David Zuchowski as the new chief of its US arm. Zuchowski will replace incumbent US chief John Krafcik, whose contract expires at the end of the year.
GS Holdings and LG to pay $598M for combined stake in South Korea's STX Energy
South Korean oil refiner operator GS Holdings Corp entered into an agreement with commodity trader LG International Corp to acquire a combined stake in STX Energy for $598 million.
South Korean private equity funds lead in domestic buyout market
Local buyout funds like MBK Partners and Vogo Fund are now leading the domestic buyout market in South Korea just nearly a decade after its first private equity fund was established in the country, the Financial Times reported.
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LIG Insurance Co. has put up for sale a controlling stake of 20.96% in the South Korean non-life insurer to compensate investors for losses sustained after buying debt issued by its affiliate. It has hired Goldman Sachs Group to advise on the sale.
A South Korean court awarded Apple a legal victory on a patent infringement case filed by Samsung Electronics Co. The decision would enable Apple to continue selling its products in South Korea, Reuters said in its report.
The New York Times said private equity investors of Oriental Brewery in South Korea could stand to gain a 34% annualized return on their original investment of the brewery.
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.
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.
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.
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.
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.
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.
