Hanwha Life Acquires Acuon Capital Stake
Hanwha Life is investing 440 billion won (about $326 million) to acquire the management rights of Acuon Capital. It will newly enter the specialized credit finance business while expanding the scope of its non-banking financial business by incorporating Acuon Savings Bank as a sub-subsidiary.Hanwha
Hanwha Life announced its acquisition of a 50.54% stake in Acuon Capital for 440 billion won ($326 million). This investment will enable Hanwha Life to enter the specialized credit finance market and expand its non-banking financial offerings by making Acuon Savings Bank a sub-subsidiary. The transaction, approved by the board of directors on September 30, was conducted jointly with EQT and Centroid Investment Partners, who together held 34.62 million shares.
Acuon Capital, a credit finance company, serves corporate, physical, and retail finance sectors, and owns Acuon Savings Bank, a top-ranked domestic savings bank. Post-acquisition, Acuon Capital will hold a 50.54% stake, making it the largest shareholder of Hanwha Life.
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