Korea Development Bank (KDB) will arrange 2.5 trillion won in acquisition financing for Doosan Group, which is pursuing the purchase of SK Siltron with Woori Bank.

According to the financial sector on the 18th, Doosan Group selected Korea Development Bank (KDB) and Woori Bank as joint arrangers for raising acquisition financing for SK Siltron and is in related discussions.

Korea Development Bank holds a board meeting on the 17th and approves a plan to introduce a performance-based pay system. Pictured is the bank's headquarters in Yeouido, Seoul/Courtesy of Korea Development Bank

Doosan Group is expected to sign a stock purchase agreement at the end of this month to acquire 100% equity in SK Siltron from SK Group. Doosan Group is said to raise about 2.5 trillion won of the acquisition funds from the two banks. Woori Bank is Doosan Group's main bank.

Korea Development Bank (KDB) and Woori Bank are expected to support 1 trillion won for the acquisition financing through a syndicated loan with multiple financial institutions participating, and 1.5 trillion won to resolve repayment obligations arising from the change in shareholders. The market estimates SK Siltron's corporate value at about 5 trillion won. About half of the acquisition funds will be raised through KDB and Woori Bank.

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