This move reflects Erae’s desire to increase its presence in China by strengthening cooperation with China’s deep-pocketed company. Erae Automotive signed an agreement to sell a 50-percent stake in its automotive air-conditioning business to HT-SAAE, a subsidiary of CASC.
To this end, Erae will divide itself into two parts--automotive electronics as well as chassis and air-conditioning business. The board of directors for the automotive air-conditioning business will be established on a 50:50 basis between Erae and HT-SAAE but the CEO will be appointed by Erae.
Erae’s automotive air-conditioning business has annual sales of about 500 billion won. The corporate value of the air-conditioning business is estimated at several hundreds of billions of won.
South Korea’s Government Employees Pension Service (GEPS) will select two global private debt fund managers employing opportunistic strategies to invest up to $160 million in a range of debts and fixed-income securities, according to the pension fund. GEPS will commit&hellip
About 300 firms from 20 countries, including the United States and China, will take part in the Cityscape Korea 2017, set for August 17 to 19, 2017 in Seoul, where 400-plus new real estate projects will be on display. Under&hellip
Hyundai Marine & Fire Insurance Co. Ltd., South Korea’s second-largest non-life insurer by assets, is considering investing in one or two additional buyout funds this year after committing $90 million to two overseas buyout funds, and it is studying makig co-investments in overseas companies around&hellip