[Alpha Biz=(Chicago) Reporter Paul Lee] Global private equity fund (PEF) Carlyle Group will sell its stake in KB Financial Group worth about 320 billion won in a mass trading (block deal) method.

According to the investment banking (IB) industry on the 15th, Carlyle Group made a demand forecast after the market closed in order to push for a block deal for a 1.2% stake in KB Financial.

The sale price is said to be KRW 64,608 to 65,954 per share, a 2 to 4% discount from the closing price of KRW 67,300. The total sale amount is between 323 billion won and 329.8 billion won. The sale company is known as Goldman Sachs, Morgan Stanley, and UBS.

Carlyle has secured a 1.2% stake in KB Financial by investing in KRW 240 billion worth of exchange bonds (EB) issued by KB Financial in 2020 through its asset management firm Kingsman Investment.

 

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