Kyobo Life’s Shin in talks with Affinity, GIC over exit below purchase price

Q: How long will it take to read this news story?

The story "Kyobo Life’s Shin in talks with Affinity, GIC over exit below purchase price" has 719 words across 31 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Kyobo Life’s Shin in talks with Affinity, GIC over exit below purchase price" was covered 3 hours ago by Korea Economic Daily, a news publisher based in South Korea.

Q: How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news. The outlet is headquartered in South Korea and publishes an average of 5 news stories per day. It's most recent story was published 18 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #26415103</li><li>URL: https://beamstart.com/news/kyobo-lifes-shin-in-talks-17404506791536</li></ul>

Korea Economic Daily Logo Korea Economic Daily 3h ago

Kyobo Life’s Shin in talks with Affinity, GIC over exit below purchase price - Korea Economic Daily

Quick Summary:

According to investment banking industry sources on Tuesday, Kyobo Life Chairman Shin Chang-jae is in under-the-table negotiations with Affinity Equity Partners and Singapore’s sovereign wealth fund GIC over a possible sale of their stakes to Shin at 230,000 won ($161) a share, below their original purchase price of 245,000 won – a price before a stock split.Affinity and GIC hold 9.05% and 4.5% of Kyobo Life, respectively.

IMM PEUnlike other Kyobo Life investors, IMM PE remains unwilling to settle at a lower valuation.Having invested 262.4 billion won, with significant debt financing and earlier dividend distributions, IMM’s outstanding acquisition loans now stand at 200 billion won.

RIFT IN INVESTORS’ EXIT PLANSThe divergence among the Fis’ exit plans stems from their differing financial positions.Affinity invested 454.5 billion won, securing 255 billion won, or 56% of the total, in acquisition financing, which it later refinanced while benefiting from dividends.