Goldman Sachs PIA and other investors on its investment of Zigbang Corporation
2015.12.17.
Yulchon advised Goldman Sachs PIA, the private equity subsidiary fund affiliate with Goldman Sachs, along with other investors to the investment of Zigbang Corporation, Korea"s leading mobile and desktop apartment search aggregation service. The transaction involved Goldman Sachs PIA"s purchase of common shares and convertible preferred stock from existing shareholders. With an investment amounting to KRW33.6 billion, Goldman Sachs PIA became one of Zigbang"s largest investors, owning approximately 18.41% of issued shares. Yulchon conducted legal due diligence and developed appropriate solutions to legal issues identified during the process, assisted in the negotiation with the sellers, as well as advising on and reviewing the share purchase agreement, the RCPS subscription agreement, and investors" rights agreement. Yulchon also advised on antitrust and fair trade matters, labor laws, and data privacy laws. The transaction was completed in a relatively short period of one month.
Yulchon Corporate and Finance Group’s, Foreign Attorney Sung Keun Park, Min Suk Choi, Attorneys Jae Hyun Park, and Gun Hee Kim advised Goldman Sachs PIA.
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