Anbang Insurance $1 billion acquisition of Tongyang Life Insurance

10/6/2015

Private acquisition

Value:

$ 1 billion

Status:

Completed

Date:

10/6/2015

Overview:

Anbang Insurance has acquired 57.55% of Tongyang Life Insurance for $1 billion from Vogo-TYL/ Ⅱ-1/ Ⅱ-2 Investment Holdings.
After the acquisition Anbang became the largest shareholder of Tongyang.
The deal represents the first ever acquisition of a South Korean financial firm by a Chinese company.

Katrin Kostadinova - Data analyst

Jurisdiction:

South Korea

Deal type:

Private acquisition

Practice area:

M&A

Governing law:

South Korea

Industry sector:

Insurance

Firms:

Bae Kim & Lee

Party: Vogo-TYL / Ⅱ-1/ Ⅱ-2 Investment Holdings (Seller)

Lawyers: Dongwoo Seo, Sky Yang

Kim & Chang

Party: Vogo-TYL / Ⅱ-1/ Ⅱ-2 Investment Holdings (Seller)

Party: Anbang Insurance Group (Acquirer)

Lawyer: Young Man Huh

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