[Alpha Biz= Reporter Kim Jisun] On December 12, VIG Partners, a domestic private equity fund (PEF) manager, refuted reports suggesting it was pursuing the acquisition of Kakao Mobility's stake and management rights.
In a statement to the press, VIG Partners clarified, “We have internally discussed the idea at a conceptual level, but the recent reports are completely baseless.”
Rumors in the investment banking (IB) and mobility sectors have suggested that VIG Partners, alongside Goldman Sachs’ alternative investment division, was considering acquiring over 50% of Kakao Mobility. Some speculated that VIG Partners might even be conducting due diligence.
Meanwhile, the CA council, Kakao Group’s control tower, is reportedly reviewing various options regarding Kakao Mobility’s stake. However, no official statement has been made. Kakao and Kakao Mobility emphasized that details related to potential investments cannot be confirmed until contracts are finalized.
According to the Financial Supervisory Service’s electronic disclosure system, Kakao is currently the largest shareholder of Kakao Mobility, holding a 57.2% stake as of the end of September. The second-largest shareholder is a consortium led by the U.S. private equity firm Texas Pacific Group (TPG), which owns 14.29% through KHAKI Holdings, LP. Other major shareholders include The Carlyle Group, which holds a 6.17% stake through Kilometer Holdings, LP, and a consortium of Korea Investment & Securities and Orix PE, which holds 5.34%.
TPG Consortium has invested approximately 640 billion KRW in Kakao Mobility across two rounds in 2017 and 2021. When Kakao Mobility was established in 2017, TPG Consortium valued the company at 1.63 trillion KRW and invested 500 billion KRW.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
