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16 Oct 2017

Advised KB Securities in Its Sale of Hyundai Savings Bank

Yulchon successfully advised KB Securities Co., Ltd. ("KB Securities") in the disposal of its 100% equity interest in Hyundai Savings Bank Co., Ltd. ("Hyundai Savings Bank") to a consortium led by Eugene Group, composed of Eugene Private Equity and Eugene Corp. The transaction value is approximately KRW 200 billion (appx. USD 183 million).

 

Throughout the transaction process, Yulchon delivered comprehensive legal advisory services including bidding process consultation, legal due diligence, assessment of the bidders" eligibility as major shareholders, review of the deal structure, obtaining approval regarding the sale of a securities company"s subsidiary, and a change of major shareholder in a savings bank, reporting and filing with the relevant authorities, drafting and review of the share purchase agreement, and closing of the transactions.

 

Under the overall direction of Ki Young Kim, Pyung Ah Park, and Sun Jin Lee advised on the transaction.  

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