What Goldman's Kyobo move means

How does Goldman''s move to buy 24% of Kyobo Life in Korea fit with the IPO of Samsung Life?

After the success of its investment in Kookmin Bank, Goldman Sachs is ready to take the plunge into Korean financial services again by buying 24% of Korea's second biggest life insurer by assets, Kyobo Life. Market speculation suggests that Goldman will invest W300 billion $256.5 million to buy the stake, which is currently owned by Daewoo International.

A Daewoo official yesterday announced that Goldman's private investment arm will complete the acquisition within a month. Given that the parties have been talking for many months, the timing of this leak may not be a coincidence - especially if it is considered in the context of what is going on in the Korean life...

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