SEOUL, KOREA – Hanwha Group will go overseas to acquire promising companies jointly with the Korean Teachers Credit Union. The group has changed the partner as the corporate partnership program with the National Pension Service has been delayed since last year.
According to investment banking sources on December 9, Hanwha Group will form a 600-billion-won matching fund with the Korean Teachers Credit Union. The fund's management will be taken up by the Korea Development Bank and Hanwha Investment.
Last year, the group had agreed with the National Pension Service to create a 1-trillion-won fund. But it has switched its partner after the fund's formation has been postponed. Hanwha Group has accelerated its bid to acquire overseas companies since August this year when it took over Q.CELLS of Germany.
*Article provided by The Korea Economic Daily
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