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Asia Digest: Kakao Japan raises $550m; Tokyo-listed Saint Marc bags $64m
May 24, 2021
Anchor Equity Partners led a 60 billion yen ($550 million) investment round in Kakao Japan, while Advantage Partners invested 7 billion yen ($64 million) in restaurant operator Saint Marc.
Anchor Equity invests $550m in Kakao Japan
Anchor Equity Partners, a private equity firm focused on opportunities in Korea and North Asia, has led an investment round worth 60 billion yen ($550 million) in the Japanese subsidiary of South Korean internet giant Kakao.
The deal marks the first investment made in an overseas Kakao subsidiary. Kakao Japan’s corporate value from this investment was recognised at 800 billion yen, according to news reports. Kakao Japan plans to use the proceeds to enhance its webtoon platform, Piccoma.
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Kakao Japan runs Piccoma, a leading webtoon platform
Early this month, when Anchor Equity Partners was in intense negotiations with Kakao Corp. over the terms of its 600 billion won ($530 million) investment in the South Korean mobile giant s Japan unit, the private equity firm was suddenly given short notice: Anyhow, get ready soon. We need to get the deal done by May 20.
At the time, Anchor Equity had expected to reach an agreement on the investment around the end of May at the earliest. But it had to hurry to meet the new deadline.
A Twosome Place IPO faces skepticism
Posted : 2021-05-05 16:52
By Anna J. Park
A Twosome Place, a coffeehouse chain headquartered in Korea aiming to go public, sent out a request for proposal (RFP) for its initial public offering (IPO) recently to some securities firms.
According to the investment banking industry earlier this week, A Twosome Place emailed the RFP to major securities firms in Korea at the end of last month.
The issuance of the RFP means that the coffeehouse chain has officially inquired about the willingness of investment banking firms to join the bid to become underwriters or lead managers of the IPO.
Korean version of Elliott becomes feasible
Posted : 2021-02-28 15:32
By Park Jae-hyuk
MBK Partners, Hahn & Company, IMM Private Equity and other Korean private equity firms (PEFs) will be able to compete fairly with their foreign peers in the local capital market.
If the National Assembly abolishes discriminatory regulations against domestic PEFs, they are expected to engage in shareholder activism and invest in domestic unicorns with high growth potential.
According to the National Policy Committee, Sunday, its members agreed last week on a revision of the Capital Markets Act, which includes the abolishment of the so-called 10 percent rule that forces PEFs meddling with the management of companies to acquire more than 10 percent of voting shares or a board seat in companies in which they invest.