이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Bid to acquire eBest securities firm draws 3 local contenders
- Collected
- 2017.04.11
- Distributed
- 2017.04.12
- Source
- Go Direct
According to the investment banking (IB) industry Monday, local savings and loans institution Apro Service Group, fledgling private equity fund (PEF) operator Whale Investment and Cape Investment & Securities (formerly LIG Investment & Securities) submitted bids for eBest Investment & Securities during the main auction arranged by Citi Global Markets Korea Securities.
LS Network Corp., the largest shareholder of eBest, is expected to choose a preferred bidder as early as this week. Industry experts predict the bid would be carried out in a progressive auction.
Apro, Whale and Cape are known to have offered around 400 billion won, according to sources. LS Network needs to fetch at least 400 billion won to collect returns from its initial investment of 470 billion won in the securities firm, according to the IB industry analysis.
Market analysts presume Apro Service Group could not have offered high bid for eBest Investment & Securities, given its previous offers for other mergers and acquisitions (M&A) deals. Whale Investment is said to have drawn funds for the bid from institutional investors such as pension funds. Currently, Cape has the upper hand in the race in terms of financing and major shareholder eligibility requirements, according to market analysts.
By Kang Doo-soon, Chun Gyung-woon and Song Gwang-sup
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