The Jinro saga

Hite signs definitive contract to buy Jinro for $3.3 billion. But why is this soju-maker acquisition so symbolic for Korea inc?

Hite has taken its acquisition of Jinro to the next stage by signing a definitive contract on Friday to purchase the soju maker for W3.41 trillion $3.31 billion. Hite, which has just completed a month of due diligence on Jinro, won a competitive auction. Its final acquisition price is W300 billion more than earlier rumours that it bid W3.1 trillion - beating out Japanese bidders as well as some local rivals in what was a highly competitive auction organized...

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