Woori Financial Group acquires 52% of Daol Investment for KRW 212.5bn
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- $147m
- Stake
- 52%
- Implied 100%
- $282m
- Revenue
- —
- Op. income
- —
- Multiples
- —
Deal value ÷ stake (structure unconfirmed)
- Target
- Daol Investment · Venture capital
- Buyer
- Woori Financial Group · SI
- Seller
- Daol Investment & Securities
- Structure
- —
- Announced
- Feb 27, 2023
- Closed
- Mar 23, 2023
- Stage
- Closed
Target
Daol Investment (formerly KTB Network) is a first-generation Korean venture capital firm rooted in Korea Technology Banking Corp., reported to manage about KRW 1.4tn in funds as of end-2022 and ranked among the top five VCs. It was renamed Woori Venture Partners after the acquisition.
Deal rationale
Woori Financial Group said the acquisition would strengthen its non-bank portfolio and build a corporate-finance value chain through investment in innovative companies; an official said managing talent is the core of PMI for a VC. Seller Daol Financial Group said the sale would significantly improve Daol Investment & Securities' financial stability, and Smart Today reported the group was disposing of subsidiaries amid real-estate PF troubles. Newstomato reported a 43.10% control premium versus the KRW 148.5bn NAV of the 52% stake (NAV KRW 285.7bn as of end-Sept 2022).
Press coverage
- 인베스트조선 (2023-02-27): “다올인베스트먼트 지분 52% 인수하기 위한 SPA를 체결”
- 메트로경제 (2023-03-23): “다올인베스트먼트 인수를 위한 잔금 전액을 납입”
- 스마트투데이 (2023-03): “다올인베 3월 인수완결”
- 뉴스토마토 (2023-02): “순자산(2857억원) 기준 지분 52% 가치는 1485억원… 경영권 프리미엄 43.10%”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.