Kyobo Life Insurance Co., Ltd., Hanwha Life Insurance Co., Ltd. and Shinhan Bank acquired Seoul Metro Line 9 Corporation from Macquarie Korea Infrastructure Fund managed by Macquarie Korea Asset Management Co., Ltd., Hyundai-Rotem Company, IBK Capital Corporation, Posco ICT Company Ltd., Ultra Construction & Engineering Co., Ltd. and other investors for approximately KRW 740 billion.
October 22, 2013
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Kyobo Life Insurance Co., Ltd., Hanwha Life Insurance Co., Ltd. (KOSE:A088350) and Shinhan Bank acquired Seoul Metro Line 9 Corporation from Macquarie Korea Infrastructure Fund (MKIF) (KOSE:A088980) managed by Macquarie Korea Asset Management Co., Ltd., Hyundai-Rotem Company (KOSE:A064350), IBK Capital Corporation, Posco ICT Company Ltd. (KOSDAQ:A022100), Ultra Construction & Engineering Co., Ltd. and other investors for approximately KRW 740 billion in cash on October 23, 2013. The cash proceeds will be entirely used to pay down MKIF's credit facility. MKIF holds approximately KRW 100 billion investment in Metro 9 comprising of KRW 41 billion of equity and KRW 62 billion of subordinated debt including accrued interest. The divestment will provide an exit internal rate of return of 13% over approximately six-year investment period, resulting in MKIF recording an one-off distributable gain of KRW 28.4 billion in the second half of FY2013.
Kyobo Life Insurance Co., Ltd., Hanwha Life Insurance Co., Ltd. (KOSE:A088350) and Shinhan Bank completed the acquisition of Seoul Metro Line 9 Corporation from Macquarie Korea Infrastructure Fund (MKIF) (KOSE:A088980) managed by Macquarie Korea Asset Management Co., Ltd., Hyundai-Rotem Company (KOSE:A064350), IBK Capital Corporation, Posco ICT Company Ltd. (KOSDAQ:A022100), Ultra Construction & Engineering Co., Ltd. and other investors for approximately KRW 740 billion in cash on October 23, 2013.
Hyundai Rotem Co is a Korea-based company principally engaged in the production and sale of railway vehicles. The Company operates its business through four segments. The Railway segment is engaged in the manufacturing and sale of railway vehicles such as electric multiple units, high-speed trains, light rail vehicles, magnetically levitated vehicles, trams and diesel multiple units. The Plant segment manufactures and sells steel facilities such as steelmaking, cold rolling and others, as well as automotive equipment such as presses, bodies and others. In addition, this segment is involved in the business of radioactive waste vitrification and the construction of water treatment plants. The Defense segment is engaged in the manufacturing and sale of defense materials and trams. The Other segment is involved of the production and sale of industrial gases.
Kyobo Life Insurance Co., Ltd., Hanwha Life Insurance Co., Ltd. and Shinhan Bank acquired Seoul Metro Line 9 Corporation from Macquarie Korea Infrastructure Fund managed by Macquarie Korea Asset Management Co., Ltd., Hyundai-Rotem Company, IBK Capital Corporation, Posco ICT Company Ltd., Ultra Construction & Engineering Co., Ltd. and other investors for approximately KRW 740 billion.
HYUNDAI ROTEM COMPANY 
