JKL Partners Inc. signed stock purchase agreement to acquire 53.49% stake in Lotte Non - Life Insurance Co., Ltd. from Lotte Station Building Co. Ltd., Hotel Lotte Co., Ltd., Hotel Lotte Pusan Co., Ltd., Aioi Nissay Dowa Insurance Co., Ltd. and Dongbin Shin for approximately KRW 370 billion.
May 02, 2019
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JKL Partners Inc. won a bid to acquire 52.5% stake in Lotte Non - Life Insurance Co., Ltd. (KOSE:A000400) from Lotte Station Building Co. Ltd., Hotel Lotte Co., Ltd., Hotel Lotte Pusan Co., Ltd., Aioi Nissay Dowa Insurance Co., Ltd. and Dongbin Shin on May 3, 2019. JKL Partners Inc. signed stock purchase agreement to acquire 53.49% stake in Lotte Non - Life Insurance Co., Ltd. for approximately KRW 370 billion on May 24, 2019. In a related transaction, Hahn & Company won a bid to acquire 80% stake in Lotte Card Co., Ltd. from LOTTE Korea. The transaction is expected to close by October 2019. Citigroup Global Markets Korea Securities Limited acted as financial advisor to LOTTE Korea. Samjong KPMG Advisory Inc. acted as the financial advisor to Lotte Non - Life Insurance Co., Ltd.
Lotte Non-Life Insurance Co., Ltd. is a Korea-based insurance company specialized in non-life insurance business. The Companyâs insurance products include fire insurance, marine insurance, automobile insurance, guarantee insurance, specialty insurance, foreign casualty insurance, long-term insurance, annuity insurance and retirement income insurance, among others. In addition, the Company also provides loan services.
JKL Partners Inc. signed stock purchase agreement to acquire 53.49% stake in Lotte Non - Life Insurance Co., Ltd. from Lotte Station Building Co. Ltd., Hotel Lotte Co., Ltd., Hotel Lotte Pusan Co., Ltd., Aioi Nissay Dowa Insurance Co., Ltd. and Dongbin Shin for approximately KRW 370 billion.