IMM Private Equity completed the acquisition of Shinhan Financial Group for $89m.

IMM Private Equity, an independent private equity firm, completed the acquisition of Shinhan Financial Group, a financial company providing retail and corporate banking, credit cards, insurance, asset management, and securities brokerage, for $89m. IMM PE is expected to further strengthen its strategic alliance with Shinhan Financial Group through this additional investment. IMM PE plans to finance the acquisition through blind fund and acquisition financing.