Successful Sale of Woori Financial Group may support government’s efforts to spur M&A’s

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KB Financial Group, NH Financial Group, and Pine Street Private Equity submitted final bids for Woori Investment & Securities on Monday, December 16. The three companies have already submitted preliminary bids for the package of assets in October. The government is trying to sell its 37.9% stake in Woori Financial Group valued at $717 million.

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Successful privatization of Woori Financial group is expected to add momentum to the government’s efforts to strengthen the securities industry’s competitiveness by encouraging M&A’s among securities firms and giving incentives to those pursuing M&A.

Click the links below to read related news articles.

“Woori Sale may Spur Takeovers as Korea Build Own Goldman Sachs – Bloomberg”
http://goo.gl/Kakjv3

“Buyers Make Final Bids for Woori Unit – WSJ”
http://goo.gl/rrK4eK

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