April 25, 2024
Deals
DK D&I seeks to divest stake in Leadcorp
[THE INVESTOR] South Korean steel drum manufacture DK D&I plans to sell its stake in consumer finance company Leadcorp in a deal that could be worth over 70 billion won (US$60 million), sources said on Nov. 30.
“Leadcorp has been searching for potential buyers for its stake including management right for the past several months,” a source at an investment bank said.
DK D&I is the largest shareholder of Leadcorp, holding a 12.97 percent stake in the firm and its affiliates DK Marine and DKCS owns 8.46 percent and 6.33 percent stake, respectively.
Given that Seo Hong-min, the CEO of DK D&I and DK Marine also holds an 11.94 percent in the loan lender, the total stake to be sold through the deal would be 39.71 percent.
KOSDAQ-listed Leadcorp posted 12 billion won in operating profit and 6.7 billion won in net income in the third quarter this year.
By Park Han-na (hnpark@heraldcorp.com)
“Leadcorp has been searching for potential buyers for its stake including management right for the past several months,” a source at an investment bank said.
DK D&I is the largest shareholder of Leadcorp, holding a 12.97 percent stake in the firm and its affiliates DK Marine and DKCS owns 8.46 percent and 6.33 percent stake, respectively.
Given that Seo Hong-min, the CEO of DK D&I and DK Marine also holds an 11.94 percent in the loan lender, the total stake to be sold through the deal would be 39.71 percent.
KOSDAQ-listed Leadcorp posted 12 billion won in operating profit and 6.7 billion won in net income in the third quarter this year.
By Park Han-na (hnpark@heraldcorp.com)
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