Meritz Securities and Hanwha Life Insurance have jumped into the race to acquire Aequon Capital.
On the 9th, according to the investment banking (IB) industry, Meritz Securities and Hanwha Life Insurance are continuing internal reviews to join the Aequon Capital acquisition race.
Meritz is expected to participate at the financial group level, with securities taking the lead. A Hanwha Life Insurance official said, "We are at the stage of looking at it as one of many assets on the market."
The asset for sale is the 96% stake in Aequon Capital held by global private equity manager EQT Partners. EQT acquired Aequon Capital for 600 billion won in 2019 and late last year appointed Citigroup Global Markets and UBS as sale advisors.
The market estimates Aequon Capital's sale price could reach 1 trillion won. The price applies a price-to-book ratio (PBR) of 0.8 times.