Announced
Financials
Sources
Tags
Acquisition
Pending
Financial Data and Systems
Friendly
South Korea
credit card services
Cross Border
Private
Private Equity
Single Bidder
Majority
Synopsis
Fubon Financial, a full-service financial holding company engaging in financial planning, banking, securities, futures and insurance, agreed to acquire a 24% stake in Hyundai Card, a provider of credit card services, from private equity firms Affinity, GIC and AlpInvest, for $442m. Fubon became one of the major shareholders of Hyundai Card, its representatives are also expected to join the card firm's board of directors in the near future, replacing those sent by previous investors.
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