Heungkuk Life Insurance, Hanwha Life Insurance(088350), and Korea Investment Holdings are understood to have participated in the main bidding for KDB Life Insurance.
According to the financial industry on the 7th, Korea Development Bank (KDB) and the sale manager Samil Accounting Corp. received final acquisition proposals from three bidders—Heungkuk Life Insurance, Korea Investment Holdings, and Hanwha Life Insurance—through the main bidding for KDB Life Insurance held that day.
In the preliminary bidding held earlier, five companies—Samsung Life Insurance, Heungkuk Life Insurance, Hanwha Life Insurance, Kyobo Life Insurance, and Korea Investment & Securities Co. holding company—participated and conducted due diligence, but Samsung Life Insurance and Kyobo Life Insurance did not take part.
KDB plans to select a preferred negotiating partner among bidders that meet eligibility requirements within this month.