Shinhan Financial acquires Lotte Insurance for $518 mil.
Shinhan Financial Group Inc., a major banking group, has decided to take over a midsize non-life insurer for 693 billion won ($518 million) to diversify its business portfolio, industry sources said Tuesday. Shinhan Financial's board of directors approved the acquisition of a 77.04 percent stake in Lotte Insurance, from private equity firm JKL Partners, and then the banking group plans to buy the…
We haven't written up this one. The Korea Times has the full story — the link below goes straight to it.
Also reported by 2 other outlets
- Shinhan Financial acquires Lotte Insurance for $518 mil. koreatimes.co.kr
- Shinhan Financial acquires Lotte Insurance Co. for 693 bln won en.yna.co.kr
