IMM Private Equity has completed its $1.2bn buyout of controlling 37.8% stake in Hanssem Co., the largest furniture and home furnishing company in Korea, according to market sources on Tuesday.
The deal closure comes in two months. The Korean private equity has financed the deal through 400 billion won from its blind pool fund, 260 billion won from Lotte Shopping, and the rest from loans.
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Separately, IMM PE recently divested of its 82 billion won investment in Hollys Coffee by selling the coffeehouse chain to Korea’s chemical- to steel-focused KG Group. It is also in the process of exiting online clothing store W Concept, based in Korea.
Source: Pulse News
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