Global private equity fund (PEF) manager EQT Partners has begun work to sell Aequon Capital and Aequon Savings Bank.
On the 6th, according to the investment banking (IB) industry, EQT Partners selected UBS Securities and Citi Global Markets Securities as lead managers and moved to sell a 96% equity stake in Aequon Capital. It is also expected to sell 100% of the equity in Aequon Savings Bank held by Aequon Capital together.
Aequon Capital traces its roots to KT Capital, which was spun off from KT Rental, and the sale price is discussed to be around 1 trillion won.
In the first half of this year, Aequon Capital posted cumulative net profit of 24.3 billion won on a standalone basis, up 18.7% from the same period a year earlier. Standalone total assets were 4.0162 trillion won. Aequon Savings Bank's asset size was 5.3698 trillion won, with net profit around 9.8 billion won.