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Ontario Pension chosen for South Korea's Kyobo Life stake sale

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06 Jun 2012 20:19 #89081 by chairman
(Reuters) - A consortium led by Canada's Ontario Teachers Pension Plan beat out Affinity Equity Partners as the preferred bidder for a stake worth $398 million in South Korea's unlisted Kyobo Life Insurance KYOBO.UL, local media reported on Thursday.

Ontario Teachers Pension Plan teamed up with Corsair Capital to bid for The 9.9 percent stake held by state-run Korea Asset Management Corp (KAMCO), a source with direct knowledge of the matter previously told Reuters.

The bid price was 230,000 Korean won ($190) per share, with the total stake to be sold at 470 billion Korean won ($398.26 million), the Chosun Ilbo reported.

The preferred bidder is expected to be finalized on Friday by a regulatory committee overseeing the recovery of bailout funds.
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07 Jun 2012 12:35 #89204 by chairman
you guys pension investing in south korea.

they could be blown to bits by the north
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
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07 Jun 2012 13:11 #89218 by ketchim
hahahaha.......Teachers got lottsa Cash !!

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