4 Bidders Vie to Acquire Dongbu Express

SEOUL, KOREA- A bidding war to acquire Dongbu Express, a logistics and package delivery unit of Dongbu Group, has officially begun among four competitors.According to investment banking sources on August 20, four companies including Q Capital Partners, KStone Partners, SC Private Equity, and IBK Securities have participated as bidders in the main tender held by the principal underwriter Korea Development Bank.

The bidding was for the acquisition of the 100-percent stake in Dongbu Express, including the 50.1-percent stake held by Dongbu Engineering & Construction and the 49.9-percent stake taken over in August last year by the Gaia Divx First Limited fund which exercised its tag-along rights.

Gaia Divx is a special-purpose vehicle established by eight institutional investors including Shinhan Capital and KDB Capital. The selling price for Dongbu Express is estimated at 300 billion to 350 billion won.

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