Meritz Fire & Marine Insurance Likely to Be Preferred Negotiation Partner for MG Insurance Acquisition
by Oh Kuemin
Published 06 Dec.2024 23:20(KST)
It was reported on the 6th that Meritz Fire & Marine Insurance is the likely acquirer of MG Insurance. The Korea Deposit Insurance Corporation is expected to announce the preferred bidder for MG Insurance as early as the 9th.
MG Insurance failed to find a buyer during the first to third rounds of sales conducted through a competitive bidding process. Subsequently, the sale proceeded through a private contract method.
Meritz Fire & Marine Insurance and the private equity fund Daily Partners participated in this private contract. It is reported that Daily Partners did not meet the bidding requirements.
If the Korea Deposit Insurance Corporation selects Meritz Fire & Marine Insurance as the preferred bidder for MG Insurance next week, Meritz Fire & Marine Insurance will conduct due diligence on MG Insurance and decide on the final acquisition.
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