Hoban Group to acquire a 40% stake in Taihan Electric from IMM Private Equity the oldest electric wire maker in Korea.

Hoban Group, a South Korean mid-size conglomerate with mainstay in construction, agreed to acquire a 40% stake in Taihan Electric, the oldest electric wire maker in Korea, from IMM Private Equity for $222m. Hoban Group is expected to nurture Taihan Electric Wire as its new growth engine as part of efforts to diversify its business portfolio.