Lotte Insurance

 

[Alpha Biz= Reporter Kim Jisun] JKL Partners, a private equity fund, has initiated continuous efforts to sell its stake in Lotte Insurance.

According to investment banking sources on the 9th, JKL Partners has not yet selected a preferred negotiating partner among multiple investment firms that participated in the main bidding for Lotte Insurance.

JKL Partners plans to continue engaging with domestic and international investors regardless of their participation in ongoing bids, aiming to reach consensus on both pricing and various qualitative conditions.

In 2019, JKL Partners became the largest shareholder by acquiring a 77.04% stake in Lotte Insurance for 7.297 trillion won. Since then, they have conducted preliminary bids in April and participated in formal bidding last month. They plan to select a preferred negotiating partner once agreements are reached on several qualitative conditions during the sale process.

Previously, Woori Financial Group participated in the preliminary bid for acquiring Lotte Insurance but decided not to participate in the formal bidding held on the 28th of last month.

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