KDB Life Sale Process Begins... Aiming to Conclude Deal in Q2 Next Year

Plan to Sell 92.7% Stake Entirely... "Will Flexibly Negotiate with Buyer"

Photo by Moon Honam, KDB Industrial Bank archive / Moon Honam reporter munonam@

[Asia Economy Reporter Yu Je-hoon] KDB Kansas Valley PEF (KCV PEF) announced on the 28th that it has issued a sale notice for KDB Life Insurance and officially commenced the sale process.

KCV PEF appointed several prominent advisory firms, including Samil Accounting Corporation, to handle the sale of KDB Life. Starting with a kick-off meeting with the advisors on the 13th of last month, they began due diligence and other preparatory work for the sale. The future schedule is flexible depending on market conditions and negotiations with potential buyers, but the goal is to select a preferred bidder in the first quarter of next year and close the deal in the second quarter.

The transaction structure is basically to sell all 92.7% of KDB Life shares held by KCV PEF and others, but it will also include flexible negotiations with the buyer regarding capital increase (such as new share subscriptions) to strengthen KDB Life’s competitiveness.

An official from the Korea Development Bank stated, "As the managing partner of KCV PEF, the Korea Development Bank will make every effort to successfully complete the sale, including flexible negotiations on the transaction structure with potential buyers."