Hana Financial is seen as a potential merger candidate in the privatisation process of its peer Woori Finance, reported the Kyung Hyang Shinmun.
The news report here (Korean) cited an industry source as saying that listed South Korean holding company Hana Financial and Woori Finance are internally preparing ideas regarding a possible merger.
A proposal could appear in March at earliest, and a share-swap could likely emerge as the merger method, the report noted.
An unsourced part of the report suggested that out of Korea Deposit Insurance Company s 65.97% stake, an 8% holding in Woori could be offloaded in a block sale and close to another 8% stake could be bought by Woori as treasury stock. The remaining 50% stake could then be swapped with Hana, the report speculated.
For more information on the privatisation of Woori Finance see ‘Update: Woori Finance stake to be sold through block sale‘ and ‘Woori Finance could be merged prior to privatisation‘.
More From privateequitykorea
No related posts.
