On September 5, 2018, MBK Partners, the largest shareholder of Orange Life Insurance Co., Ltd. (formerly known as ING Life Insurance Co., Ltd.) (“Orange Life”), sold its 59.15% equity stake in Orange Life for approximately KRW 2.3 trillion, by entering into a share sale and purchase agreement (“SPA”) with Shinhan Financial Group Co., Ltd. (“Shinhan”).  

On February 1, 2019, Shinhan obtained the necessary approval from the financial regulator on the acquisition, making the acquisition official.

Our Representation:

Kim & Chang provided comprehensive advisory services to MBK Partners, the seller, including designing the transaction structure, negotiating and drafting the terms of the SPA, as well as preparing all other closing-related matters necessary for the completion of this transaction.