Shinhan Financial Group Acquires Neoplux for 73 Billion KRW... "Group Synergy Effect"

Doosan Venture Capital SPA Agreement
96.77% Stake... Acquisition for 73 Billion KRW

[Asia Economy Reporter Minyoung Kim] Shinhan Financial Group signed a stock purchase agreement (SPA) with Doosan for Neoplux shares on the 20th. Previously, both companies held board meetings to approve the agenda for the sale and purchase of Neoplux shares.

On the day, Shinhan Financial decided to acquire 24,413,230 common shares of Neoplux (96.77% stake) for 73 billion KRW (tentative). The final acquisition price will be confirmed after an adjustment process through due diligence.

Through this acquisition, Shinhan Financial will own an independent and specialized venture capital company. This completes the group’s investment finance value chain capable of responding to the entire corporate lifecycle.

Additionally, it is expected to create various synergies together with the group’s investment finance business lines such as Shinhan Bank, Shinhan Investment Corp., and Shinhan Capital.

A Shinhan Financial official explained, “By acquiring a specialized venture capital firm, we have established a customized total financial service system that can meet the funding needs at each growth stage of promising venture companies?from startup early stage, expansion/growth stage, to pre/post initial public offering (IPO).” He added, “We expect many synergies, including creating various business opportunities by linking Neoplux’s network of startups and promising unlisted companies with Shinhan Financial’s existing investment finance business lines.”

Meanwhile, Shinhan Financial will accelerate efforts to build and strengthen the innovation finance ecosystem through the acquisition of Neoplux. Shinhan Financial plans to actively utilize Neoplux to expand the group’s core innovation finance projects, including the ‘Shinhan N.E.O. Project,’ a financial New Deal policy supporting Korea’s New Deal policy; the ‘Shinhan Triple-K Project,’ a nationwide innovation growth platform project; and ‘Shinhan Futures Lab,’ the financial sector’s first startup accelerator program.

This content was produced with the assistance of AI translation services.