In the acquisition of SK Shieldus, the first acquisition of a controlling stake and management control by EQT Partners in Korea, Kim & Chang provided advice on the overall transaction, including deal structuring, legal due diligence, negotiation of agreements, financing, obtaining regulatory approvals and closing. More specifically, we provided advice regarding: (i) local and global merger filings in jurisdictions including Korea and EU and obtaining licenses/permits from governmental agencies in Korea (e.g., national security review approval); (ii) acquisition financing; (iii) review of transaction structure from both a tax and financing perspective; (iv) legal due diligence; (v) preparation and negotiation of transaction-related agreements (e.g., share purchase agreement and shareholders agreement) and ancillary documents; (vi) W&I insurance; and (vii) PMI matters.

The transaction was also subject to the new national security review regulations for foreign investment in Korea. Through close cooperation between Kim & Chang and the EQT team, we performed various tasks such as reviewing relevant regulations, consulting with the relevant governmental agencies, and preparing reports and supporting documents. As a result, we were able to procure a swift and smooth approval process.
 
Further, we developed effective tax and legal structures to procure acquisition financing in a timely manner. Although the volatile financial environment, the interests of many stakeholders, both foreign and domestic, and other factors posed highly complex issues, we were able to successfully navigate these issues for our client and devise an effective solution while minimizing risk for the parties involved.