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Investment firm explores Lotte Insurance buy
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Business Insurance
Korea Investment Holdings Company Ltd. is conducting due diligence on South Korea-based Lotte Non-Life Insurance Company Ltd., signaling a potential acquisition to accelerate its entry into insurance, Pulse reported.
Lotte Non-Life, listed on the Korea Composite Stock Price Index and majority-owned by Seoul-based private equity firm JKL Partners Inc., has a market capitalization of about 560 billion Korean won ($402 million).
JKL Partners tried to sell its stake last year but talks collapsed over valuation differences with potential buyers.
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