(Courtesy of Taihan Electric Wire Co.)
The $5.4 billion fund has completed five divestitures over the past six months, estimated to have produced a combined 1 trillion won in proceeds, including both the investment principal and capital gains.
The firm s aggressive divestments were in contrast to other private equity firms in Korea, which have opted to sit back until their portfolio companies achieve higher valuations with the receding of the pandemic.
IMM PE was founded in 2006 by Chief Executive I.J. Song, an accountant. It focuses on Korea and Korea-related investment opportunities, with 30 investment professionals
TAIHAN ELECTRIC WIRE
The exit deal for Taihan Electric Wire Co. highlighted IMM PE s turnaround strategy. IMM PE took over a 71.51% stake in the country s No. 2 electric wire manufacturer for around 300 billion won in 2015. The company s reckless business diversification had aggravated its financial conditions, landing in the hands of creditor banks.
IMM PE set for large investments after successful divestments
Posted : 2021-04-05 15:54
By Park Jae-hyuk
Attention is being focused on the next investment target of IMM Private Equity (IMM PE), as the domestic private equity firm (PEF) completed successful divestments last week from W Concept and Taihan Electric Wire.
The PEF and Citigroup Global Markets Securities, the underwriter for the sale of W Concept, selected Shinsegae Group s e-commerce unit SSG.com as the preferred bidder to acquire the womenswear fashion platform, Thursday, and signed a share purchase agreement.
SSG.com will take over a full stake in W Concept ― 80 percent held by IMM PE and 20 percent held by ISE Commerce ― after the Fair Trade Commission approves the merger deal.
Morgan Stanley tops M&A advisory market in Korea in Q1
Posted : 2021-04-05 16:44
By Anna J. Park
Morgan Stanley s Korea branch topped the list of the M&A advisory market during the first quarter. The U.S.-headquartered investment bank s lucrative Q1 results came from inking major deals, including the sale of local recruitment site JobKorea for 900 billion won ($800 million).
Morgan Stanley also led Match Group s $1.73 billion buyout deal of Korea-headquartered social networking company Hyperconnect, which operates global-based applications Azar and Hakuna Live.
According to the investment banking industry, the firm is expected to maintain the top position in the M&A advisory market in Korea throughout this year, as it is also participating in the sell-off of eBay Korea as well as the nation s second-largest food delivery platform Yogiyo.
Shinsegae buys Korean online fashion mall from IMM PE kedglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kedglobal.com Daily Mail and Mail on Sunday newspapers.
Taihan Electric Wire s cable products
South Korea-based IMM Private Equity is set to announce shortlisted candidates for the sale of Taihan Electric Wire Co. next week. The deal has drawn attention from around 10 global business groups and private equity firms that have joined the race to acquire the country s second-largest electric wire maker.
The company s largest shareholder IMM PE will be exiting five years after its initial investment in 2015. The PE firm plans to sell a 67.54% stake, including stakes held by its special-purpose company and Hana Bank, according to investment banking sources on Feb. 5.
The deal will eventually depend on its price. Last month, the sell-side sold a 6.7% stake in Taihan Electric Wire in the over-the-counter market to attract buyers. The company’s share price, which stood at around 800 won last October, recently surged to around 1,400 won ($1.25). This pushed up the sale price, initially hovering around 700 billion won, to 1 trillion w