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KDB tops M&A market
Writer : Sender
Jul 22, 2010
Korea Development Bank has set its own M&A business model since it started in 1996.
The state-run bank launched a special unit, which deals with M&A business in 2003. Since then, it has struck several big deals, such as the sales of Bumyang Merchant Marine and NewCore in 2004. The scale of the two deals were, respectively, estimated at 415.2 billion won and 407.9 billion won.
In 2005, KDB was awarded the "Best M&A Deal Award" from FinanceAsia, a monthly magazine based in Hong Kong for striking the biggest M&A deal at the time -- Hite's acquisition of Jinro, the nation's leading distiller back then, at the price of 3.4 trillion won.
KDB's M&A story has not been limited to domestic success. The bank has been pushing for a piece of the overseas market, achieving a few great deals.
In 2007, KDB was in the spotlight from M&A industry experts at home and abroad for helping Doosan Infracore acquire Ingersoll Rand Bobcat at the price of $4.9 billion, the biggest M&A deal struck by domestic M&A specialists.
Doosan's purchase of Bobcat and two other units of U.S.-based Ingersoll Rand was the fourth-biggest takeover in 2007 and is the largest deal in which a domestic company played the role of a buyer targeting a foreign firm.
KDB also advised LS Cable to buy Superior Essex at 1 billion won in 2008. Superior Essex is a global leader in the design, manufacture and supply of wire and cable products.
KDB vows to provide the best service for potential M&A customers with its abundant experience.
"KDB kicked off its M&A business in 1996 for the first time as a financial firm," said Kim Hyung-jong, head of M&A department in KDB.
"We plan to provide the best services for our customers based on our experience handling big deals."
KDB chairman and CEO Min Euoo-sung also aims to leap forward as a global investment bank, taking advantage of its M&A skills and experience.
"KDB is an acknowledged expert in corporate banking, and our lengthy experience in this area has been instrumental in quickly building up our investment banking capabilities," Min said in the firm's 2008 annual report.
"We increased our share of the domestic project financing and M&A business in 2008, despite an overall contraction of both sectors."
(Source: The Korea Times)
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