The sale of ECORBIT, which is considered the key element in the normalization of Taeyoung Engineering & Construction, is gaining momentum with the selection of lead managers. UBS and Citigroup Global Markets Securities, two global investment banks (IBs), have been assigned the task.According to sour
Eight domestic insurance companies invested more than 400 billion won (US$312.74 million) in the construction of the world’s largest biomass power plant in the U.K. However, due to delays in construction and operation, they had to write off over half of the invested funds, resulting in significant l
According to the investment banking industry on July 24, LG CNS is considering when to apply for preliminary examination for listing on the Korea Exchange (KOSPI).LG CNS has been pushing for a listing by selecting KB Securities, Bank of America (BoA), and Morgan Stanley as IPO underwriters since May
The Fund Management Division of the National Pension Service (NPS) announced on June 30 that it has selected a total of three institutions as private equity fund (PEF) managers for domestic alternative investments in 2023.Following the announcement of the selection plan last March, and after the pro
EQT Partners, a private equity fund (PEF), has finalized the acquisition of SK Shieldus, a security business affiliate of SK Group. EQT will sign a stock purchase agreement (SPA) worth three trillion won with SK Shieldus this week. It will take over about 30 percent of the 63.1 percent stake held by
EQT Partners, a private equity fund operated by Sweden’s largest conglomerate Wallenberg Group, is reportedly promoting an investment of about 2 trillion won in SK Shieldus, a Korean security company.Wallenberg Group has invested in major global companies through diverse investment arms. It has stak
SK ecoplant has signed an offshore wind power development agreement with Corio Generation, a wind power development company within Green Investment Group (GIG), and TotalEnergies, a global general energy company, the company announced on Sept. 5.GIG is a specialist green investor within Macquarie As
Canada’s Brookfield Asset Management, one of the world’s largest alternative investment management companies, is set to acquire industrial gas production facilities from SK Materials Airplus, a subsidiary of SK Inc., within August at the earliest. The acquisition price is known to be around 1 trilli
The author is an analyst of KB Securities. He can be reached at moonjoon.chang@kbfg.com. -- Ed. Maintain BUY and target price of KRW16,000 We maintain BUY and our TP of KRW16,000 for Macquarie Korea Infrastructure Fund (MKIF). Despite a rise in COE (6.23%→6.98%), our TP is unchanged given an increas
LG Group has joined hands with Morgan Stanley again to acquire Iljin Materials. Morgan Stanley is drawing attention as it has been almost monopolizing financial and business-related consulting orders from LG Group, which has no financial affiliates.LG Chem appointed Morgan Stanley as a financial adv
The PE Headquarters of Macquarie Infrastructure Asset Management, a private equity fund manager, hit the jackpot with its investment in LG CNS, an information technology (IT) service company of LG Group.It has recently selected Samsung Securities, KB Securities, KB Kookmin Bank, Korea Investment & S
Hyundai Engineering has signed a memorandum of understanding (MOU) with Macquarie Green Investment Group (GIG) to cooperate in developing renewable energy-based power generation projects.The contract was signed online on Dec. 21 with the attendance of Hyundai Engineering CEO Kim Chang-hak and Vineet
The Bank of Nova Scotia has decided to withdraw from the South Korean market. The Financial Services Commission approved the closure of the Seoul office of the Canadian bank late last month. The third-largest bank in Canada opened the corporate financing arm in 1978.According to the Canadian bank, t
Sweden's Wallenberg family is promoting equity investment in SK Group’s ADT Caps through EQT Partners, Sweden's largest private equity fund operator established by the Swedish business empire.ADT Caps, a subsidiary of SK Telecom, is seeking a pre-IPO worth 300 billion won. EQT Partners has t
SK Ecoplant announced on Sept. 9 that it has been chosen as the preferred bidder for Rv555 The Sotra Connection of the Norwegian Public Roads Administration.SK Ecoplant joined the competition by forming an investment consortium with Macquarie Capital and Webuild. SK Ecoplant has a 20 percent stake i
Hyundai Motor Co. announced on July 27 its plan to deploy the company’s latest hydrogen fuel cell electric heavy-duty trucks in California, for two publicly funded projects to improve the air quality in the region.The demo trucks that Hyundai will bring into the United States are developed based on
LG CNS, one of the largest IT service providers in South Korea, is planning to go public in South Korea in 2023. It recently formed a task force to that end, and the timing of the IPO and how to do it are yet to be made public.The IPO of LG CNS has been anticipated by many in that most of the others
The Korea Exchange announced on May 16 that 10 and 17 entities reported themselves for the first 10 days of this month as those having large short selling balances in KOSPI and KOSDAQ, respectively.The large balance means at least 0.5 percent of the total listed shares. Any entity with such a balanc
Foreign fund operators’ concerns are mounting with Citibank having decided to withdraw from the South Korean retail finance market.According to the Korea Financial Investment Association, the principal of Fidelity International funds sold via Citibank Korea until the end of February this year is 493
Global investment firm The Carlyle Group Inc. announced on Feb. 18 that the firm has agreed to invest US$200 million in Kakao Mobility, the largest Mobility-as-a-Service (MaaS) platform in South Korea. Equity for this transaction will come from Carlyle Asia Partners V.Launched in 2015 as a business