Cheil Worldwide, an advertising unit of Samsung Group, is rumored to be in talks to merge with a new global partner after its recent failed talks with French ad giant Publicis Groupe. According to news reports Friday, the group is also planning to spin off the sports business division from Cheil, which has operated the firm’s sports teams, to better appeal to a possible buyer. Samsung is reported to have tried to sell the sports business to Publicis but the French partner expressed its reluctanc

[THE INVESTOR] Hanmi Science, the holding company of South Korea’s Hanmi Pharmaceutical, said Thursday that it has acquired local medication management automation company JVM Co. under a stock swap agreement.　Hanmi Science acquired a 30 percent stake in JVM by purchasing 1.89 million JVM shares for 129 billion won ($112 million) -- 20 percent of which was paid in cash and the remaining 80 percent through Hanmi Science shares.Hanmi Science (Yonhap)“Through the merger, we expect great synergies be

German automotive firm Continental AG’s interest in acquiring local tire company Kumho Tire has increased the pressure on Kumho Asiana Group chairman, as he has to solely prepare around 1 trillion won ($8.6 billion) to reacquire the firm. Local news reports said Tuesday Continental is in talks with financial investors to participate in the bidding for the Korean tire company, citing sources from the creditors of Kumho Tire. Other global firms, including French tire firm Michelin and Chinese stat

Lotte Chemical, the petrochemicals unit of South Korea’s Lotte Group, said Tuesday that it has made an offer to buy U.S.-based chemicals producer Axiall Corp. with aims to expand its business portfolio and strengthen its footing in North America.The company said it submitted its bid to take over Axiall Corp. last Saturday. No further details were disclosed, including its offering price.Axiall Corp. is an Atlanta-based chemicals firm that specializes in producing integrated chlorovinyls and vinyl

Merger and acquisition deals in Korea, previously expected to flourish thanks to industry-wide corporate restructurings, are actually dragging on due to little interest from potential buyers, industry sources said Tuesday.Early in January, mobile messaging app operating giant Kakao Corp.’s 1.87 trillion won ($1.57 billion) acquisition of Loen Entertainment, the top operator of online music in the local market, was expected to prompt the M&A market later this year.However, major deals that draw k

Samra Midas Group, or SM Group, has no intention to acquire part of midsized shipyard SPP Shipbuilding from its creditors, a local news report said Thursday.The business group, which owns listed shipper Korea Line and builder Woobang Construction, could not narrow differences in the price negotiation for SPP’s shipyard in Sacheon, Yonhap said. “We had estimated that additional 140 billion won ($118 million) would be needed for SPP Shipbuilding based on the result of due diligence. But creditors

ING Life Insurance will be extending its sales offer by the end of this week to fuel more potential bids for the insurer owned by Korean private equity MBK Partners following lower-than-expected buyout interests, according to news media citing investment banking sources.MBK and ING could not be reached for comments. Morgan Stanley is the sales manager of MBK’s ING Life Insurance.Only about three companies at home and abroad submitted their letters of intent for the insurer on Monday. MBK seeks t

Samsung Electronics has newly acquired stakes in five start-ups in the first quarter of this year as part of its ongoing efforts to elevate its software prowess.According to its quarterly report filed Monday, the five firms include SensiFree (15.09 percent), Unispectral (7.76 percent), Zyomed (2.17 percent), Keyssa (2.06 percent) and Bot Home Automation (0.99 percent).Samsung’s digital city complex in Suwon, Gyeonggi Province (Samsung Electronics)Even though the total spending, worth about 10 bi

U.S. private equity giant KKR & Co. is not keen on investing in ailing sectors in Korea including shipbuilding and steel, its CEO said Tuesday.“We’ve avoided, not just in Korea but around the world, investing in steel or shipbuilding or auto companies mainly because of cyclical nature of those businesses,” said George Roberts, cochairman and co-CEO of KKR, at a press conference in Seoul.George Roberts, cochairman and co-CEO of U.S. private equity firm KKR, speaks during a press conference in Seo

Two sons of the Kumho Group founder are likely start a lengthy legal battle over a merger between Kumho Terminal and Kumho & Co., a special purpose company set up by the elder brother to bring his empire back under his control.Kumho Petrochemical, run by younger brother Park Chan-koo, has recently sent an official request to Kumho Terminal to stop the merger with Kumho & Co., threatening to take legal action if it does not drop the case.Calling the deal a serious dereliction of duty, Kumho Petro

South Korea’s conglomerate Lotte Group plans to buy a controlling stake in Hyundai Logistics, as it seeks to strengthen its delivery service to compete with other rival retailers.By the end of next week, eight affiliate companies of Lotte are set to hold board of directors meetings to get approval to buy an 88.8 percent stake in Hyundai Logistics in separate deals with an estimated value about 410 billion won ($351 million), according to Lotte officials. They expect to complete transactions with

Talks between the E-Land Group and U.S. private equity giant KKR for the sale of local retail chain Kim’s Club are dragging on due to differences over price, local reports said Monday. E-Land is trying to sell its 37-branch hypermarket franchise to KKR for about 700 billion won, but the buyout firm is refusing to pay more than half of that price, Yonhap News reported, citing unnamed sources. Kim’s Club’s revenue last year was 660 billion won.“Negotiations are going smoothly,” E-Land said, in res