[Featured Stock] KG Group Shares Rise Early on Strong Following Conditional Investment Agreement with Ssangyong Motor

[Image source=Yonhap News]

[Asia Economy Reporter Lee Myunghwan] KG Group-affiliated stocks are showing strength in early trading on the 19th. This is attributed to the conditional investment agreement signed between the KG consortium, led by KG Group affiliates, and Ssangyong Motor the previous day.

As of 9:45 a.m. today, KG Mobilians is trading at 9,530 KRW, up 9.67% (840 KRW) from the previous trading day. KG ETS is also trading at 17,900 KRW, up 3.17% (550 KRW) from the previous day. KG Steel (0.87%) and KG Steel Preferred (0.78%) are holding up well despite the overall market decline.

Ssangyong Motor announced that it has signed a conditional investment agreement with the KG consortium, which was selected as the prospective acquirer the day before. The KG consortium consists of the special purpose companies (SPCs) KG Mobility, KG ETS, KG Steel, KG Inicis, KG Mobilians, along with private equity funds Kektus Private Equity (PE) and Pavilion PE.

Ssangyong Motor is conducting a resale process using the "stalking horse" method, where a conditional investment agreement is signed with the prospective acquirer and the final acquirer is confirmed through a public bidding process. The public sale procedure is expected to begin as early as next week.

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