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BKL advises Mirae Asset in acquisition of Taiwan Life Insurance asset management unit |
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2011-06-15 |
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Bae, Kim & Lee LLC has advised Mirae Asset Global Investments in its purchase of a 60% stake in TLG Asset Management, a Taiwan-based asset manager, from Taiwan Life Insurance. The acquisition by Mirae Asset, Korea’s largest asset management group, was completed on June 15, 2011. Potentially a key move for Mirae Asset in Taiwan, the deal also marks the first takeover of an overseas asset management business by a Korean asset manager. With the move, Mirae Asset aims to augment its business in the Greater China region and diversify product offerings for global investors, as part of a broad strategy for expansion beyond its powerful home base. Seoul-headquartered Mirae Asset has over $50 billion in total client assets under management, and over $29 billion in emerging market equities. It ranks among the largest emerging market equity investment managers worldwide. The BKL team acting for Mirae Asset was led by partner Jung Min Jo and included associates Dae Hyun Baek and Albert Suh, of our Corporate Practice Group. The team handled the negotiation of the definitive agreements and the deal process for Mirae Asset. BKL was assisted by local counsel Tsar & Tsai Law Firm, Taipei. |
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KOGAS completes C$300,000,000 debt sale, in first Asian issue of “Maple” bonds |
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BKL handles POSCO investment in XG Sciences, U.S. maker of “miracle material” graphene |
