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Kim & Chang Advises SK Telecom and Macquarie in the Acquisition of ADT Caps from Carlyle for Nearly KRW 3 Trillion, Creating New Market Synergies


SK Telecom Co., Ltd., a telecommunications service provider (“SKT”), and Macquarie Korea Opportunities Management Ltd. (“Macquarie”) jointly acquired 100% of the issued and outstanding shares of Siren Holdings Korea Co., Ltd., which wholly owns, among others, ADT Caps Co., Ltd. (“ADT Caps”), from the Carlyle Group for approximately KRW 3 trillion.

The transaction, which will combine telecommunication services with security services, is expected to create new synergies in the market.  The transaction involved a consortium of SKT and Macquarie, each respectively acquiring 51% and 49% of the shares of Siren Holdings Korea, and as a result, now hold joint control of ADT Caps, Capstec and ADT Security.  

Our Representation:

Kim & Chang advised the consortium in devising the optimal transactional structure, including refinancing outstanding liabilities, and preemptively mitigated potential legal risks, meeting the needs of multiple investors.  Our firm provided comprehensive legal services, including due diligence, examining a variety of legal issues, drafting key transaction documents, including the share purchase agreement and shareholders’ agreement, as well as facilitating the successful closing of the transaction.