(Photo = Yonhap news)

[Alpha Biz=(Chicago) Reporter Paul Lee] Meritz Financial Group will invest about 100 billion won in North American companies that handle and transport crude oil and natural gas.

According to the financial investment industry on the 25th, Meritz Financial Group recently signed an agreement to invest 100 billion won in shares and bonds of Durango. Meritz Financial Group will have three companies - Meritz Fire & Marine Insurance Co., Securities Co. and Capital Co. - set up a dedicated fund to invest in Duranto's short-term repayment bonds and ordinary shares. Global investors in the U.S. as well as Meritz Financial Group will participate in the investment worth 30 billion won.

Founded in November 2017, Durango is a midstream company based in Texas, USA. It is carrying out projects such as processing, transporting, and selling crude oil and natural gas. Currently, Morgan Stanley Fund owns a 98% stake in Durango. Duranto plans to use the funds raised this time to repay bonds and expand gas treatment facilities.

 

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