Hanyang Securities (photo = Hanyang Securities)

[Alpha Biz= Reporter Kim Sangjin] On September 2nd, after the market closed, Hanyang Securities announced that Hanyang Academy, along with Baeknam Tourism and HBDC, had selected KCGI as the preferred negotiator for the sale of its 29.6% stake in Hanyang Securities. A term sheet has been signed between the parties, confirming KCGI's position as the preferred bidder, while LF has been designated as the secondary negotiator.

The sale involves 3,766,973 common shares, with a price set at 65,000 KRW per share, resulting in a total transaction value of approximately 244.85 billion KRW.

Key terms of the agreement include:

Planned due diligence.
Granting exclusive negotiation rights to the buyer for five weeks (extendable by one week if mutually agreed).
Mutual confidentiality obligations.
 

Hanyang Securities indicated that it would provide a further disclosure on either the specific decision date or by September 22, whichever comes first.

If the deal is finalized, it will mark the first change in ownership for Hanyang Securities since its establishment by Hanyang Academy in 1956, ending a 68-year legacy.

 

 

 

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