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International

Private equity firm to sell stake in Korean insurer for $1.4 billion

April 29, 2024 Reprints

South Korea-based private equity firm JKL Partners Inc. has put its 77% stake in local non-life insurer Lotte Insurance Co., Ltd. for sale for more than 2 trillion South Korean won ($1.45 billion), Asia Insurance Review reported citing The Korea Times. JKL purchased a 53% stake in Lotte Insurance for KRW373 billion in 2019 and grew its stake in the insurer to 77% through the insurer’s rights offering in October 2019.

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Private equity firm to sell stake in Korean insurer for $1.4 billion

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