Yulchon advised a consortium led by STIC Investments and Hana Daetoo on its acquisition of a 49% interest in LIG Nex1
2013.02.26.
Yulchon’s Corporate and Finance group advised a consortium consisting of eight financial investors, including STIC Investment Inc. and Hana Daetoo Securities Co., Ltd. on its successful acquisition of a 49% equity interest in LIG Nex1 Co., Ltd.
Through this transaction, LIG Insurance Co., Ltd., the largest shareholder of LIG Nex1, reduced a substantial portion of its financial liability as it procured an equity investment of around KRW 420 billion. The Consortium aims at listing shares issued by LIG Nex1 within four years.
Yulchon provided comprehensive legal advice throughout the transaction, including due diligence on LIG Nex1, preparation and review of key transaction documents, such as the consortium agreement, the share purchase agreement and the shareholders agreement, guiding reconciliation of interests among the parties, and advising on the various legal issues arising throughout the course of the transaction. Yulchon led the successful consummation of the transaction by providing practical and effective solutions tailored for various types of participating entities, ranging from a private equity fund to a special purpose vehicle and a bank’s money trust for specified purposes.
