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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] Woori Financial Group is reportedly pursuing the acquisition of Tongyang Life Insurance and ABL Life Insurance as a package deal.
According to the financial sector on the 26th, Woori Financial recently signed a memorandum of understanding (MOU) to purchase shares of Tongyang Life and ABL Life from their largest shareholder, China’s Dajia Insurance Group.
The acquisition price has not been determined yet.
Woori Financial is expected to present a specific acquisition price for the two life insurance companies after conducting due diligence.
A key official from Woori Financial commented, "These companies are among several under consideration for acquisition," adding that "the MOU is not immediately binding."
Regarding Woori Financial’s potential participation in the main bid for Lotte Insurance on the 28th, the official stated, "We will make a careful decision after thorough review until the last moment."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
