SC Lowy takes stake in Korea’s Shinmin
Distressed and illiquid assets specialist SC Lowy will likely gain a portfolio of South Korean non-performing loans by acquiring Shinmin from a troubled construction firm.
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SC Lowy has announced the joint acquisition of a controlling stake in South Korea’s Shinmin Mutual Savings Bank in a deal that will likely give the Hong Kong-based firm a sizeable portfolio of non-performing loans (NPLs).
According to the deal terms, SC Lowy, a distressed and illiquid assets specialist, and Yuli PE have jointly acquired 86.9% of Shinmin from Korean construction company Samhwan Corporation.
The price of the transaction was not disclosed, but Samhwan, in a statem…
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