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LIGNEX1 office building (photo = LIGNEX1) |
[Alpha Biz= Reporter Kim Jisun] LIG Nex1 is in the final stages of acquiring a controlling stake in Ghost Robotics, a U.S. quadruped robot company.
According to the investment banking (IB) industry on the 10th, Sema Investment, a subsidiary of Korea Post, recently formed a fund worth around 100 billion KRW in collaboration with Korea Investment Private Equity (KIP PE) for investment in Ghost Robotics. The Science and Technology Mutual Aid Association is reportedly contributing up to half of the fund. The remaining funds have been mostly secured by KIP PE through domestic institutions, corporations, and high-net-worth individuals.
Late last year, LIG Nex1 announced that it would acquire a 60% stake in Ghost Robotics for $240 million (approximately 330 billion KRW) in partnership with KIP PE, aiming to close the deal by the first half of this year.
LIG Nex1 plans to assist in taking Ghost Robotics public through an IPO on the U.S. stock market within three years to help financial investors (FIs) recover their investments. However, if this plan is not executed, LIG Nex1 has agreed to buy out the FI's shares at an internal rate of return (IRR) of 6%. Conversely, if the IPO yields an IRR exceeding 15%, LIG Nex1 will receive 10% of the excess profits as stipulated in the contract.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
