Kim & Chang represented KKR in its sale of 100% equity interests (KRW 1.19 trillion) in KCF Technologies Co., Ltd. (“KCF Technologies”) to SKC Co., Ltd.

On February 28, 2018, KKR acquired a copper foil and flexible copper clad laminate businesses from LS Mtron Ltd. at a purchase price of KRW 300 billion by way of business transfer to KCF Technologies, a wholly owned subsidiary of KKR.  Shortly thereafter, KKR successfully exited by selling 100% of its equity interests in KCF Technologies to SKC Co., Ltd. (an SK Group affiliate) at the purchase price of KRW 1.19 trillion.  

Due to the purchaser’s emphasis and strenuous requirements with respect to environmental issues, certain post-signing actions were required to address the purchaser’s concerns.  Also, the relatively long period of time between signing and closing of the deal led to several unexpected issues including labor issues arising from KCF Technologies’ labor union, issues arising from KCF Technologies’ existing credit facility and requests by foreign merger control authorities.

We advised KKR with respect to various legal and regulatory issues during the entire transaction process and assisted in a successful closing.