M&A Team conducts a package deal of Kumho Industrial on behalf of a PEF established by an IBK Securities consortium
2012.08.09.
On behalf of a private equity fund established by a consortium led by IBK Securities Co., Ltd. and K-Stone, Yulchon successfully concluded a package deal selling in bulk, core assets of Kumho Industrial Co., Ltd. which was under work-out at approximately KRW950 billion. The private equity fund established an investment company pursuant to the Financial Investment Services and Capital Markets Act to acquire the shares of companies owned by Kumho Industrials, such as KumhoBuslines, Daewoo Engineering & Construction Co., Ltd., and Seoul Express Bus Terminal Co., Ltd.
This transaction utilized an industrial finance stability private equity fund, a new structure that has been rarely used since its introduction in 2012.Through this deal, Kumho Industrial was able to pay off a KRW800 billion debt and complete its work-out ahead of schedule.
For eight months,Yulchon advised on the entire transaction process which included the establishment and registration of the fund, drafting, negotiation and execution of contracts, and conclusion of the transaction.
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