, Korea

Woori Financial sale falls though

Plans to privitize Woori Finance fell through as no one applied for the preliminary bids for the 57 percent government stake.

 

KB Financial Group decided not to make a bid two days ahead of the deadline for preliminary bidding, and so did Kyobo Life Insurance, the Korean Federation of Community Credit Cooperatives, which had considered forming consortia for the bid, and MBK Partners, a private equity fund.

Under the law on state contracts, for the sale of a government-owned stake in a company, at least two entities must take part in the bid for open competition.

For more.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!