Shinhan Financial Group Arranges Acquisition Financing Worth 140 Billion KRW for US CSI Corporation
Shinhan Financial Group Arranges Acquisition Financing for U.S. Bottle Stopper Manufacturer
[Asia Economy Reporter Kangwook Cho] Shinhan Financial Group announced on the 10th (local time) that its Global Investment Banking (GIB) division successfully arranged acquisition financing worth USD 120 million for global manufacturer Closer Systems International (CSI).
This acquisition financing deal supports Canister International Group, established by global private equity firm Cerberus Capital, in securing the necessary funds to acquire the North American and Japanese business units of the U.S. bottle cap manufacturer CSI.
Shinhan's GIB division arranged acquisition financing amounting to USD 120 million, which is 27% of the total acquisition financing of USD 450 million in this deal.
In particular, despite the market conditions where deals have decreased due to the COVID-19 pandemic, Shinhan Financial explained that starting from deal sourcing by the New York GIB desk, group affiliates including Shinhan Investment Corp., Shinhan Bank, and Shinhan Capital collaborated organically to successfully close the deal, thereby solidifying their position as a leader in overseas acquisition financing.
Shinhan Financial's GIB division continues to expand by establishing GIB desks in financial hubs around the world to strengthen the group's global capital market competitiveness and secure new revenue sources.
Earlier this year, they secured exclusive rights to arrange acquisition financing worth KRW 100 billion for a U.S. healthcare IT company and conducted a syndicated loan targeting domestic investors. They are also enhancing their global acquisition financing competitiveness by participating in acquisition financing for Nestl? Skin Health division and Legoland together with global investment banks.
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A Shinhan Financial official stated, "Shinhan Financial will strengthen its overseas IB business based on the diverse know-how of the GIB division," adding, "We will continue to strive to become a global financial group through profitability diversification by pioneering new global markets."
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