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League table

Credit Suisse lead-manages Doosan Group’s restructuring deals

Oct 05, 2020 (Gmt+09:00)

Credit Suisse handled three restructuring deals worth a combined 1.2 trillion won ($1 billion) for South Korea’s Doosan Group and 1.5 trillion won worth of asset divestments for SK Group in the July-September period, reclaiming the top spot in the country’s M&A advisor list.

In total, the Switzerland-based bank worked on seven M&A transactions in South Korea, worth 3.7 trillion won in aggregate, according to data jointly compiled by The Korea Economic Daily’s capital markets news outlet Market Insight and research firm FnGuide on Oct. 4.

Data is based on deals for which definitive agreements were signed, including the 1.33 trillion-won sale of SK Networks Co.’s petrol stations earlier this year.

In comparison, last year’s league table was based on transactions for which tentative agreements were announced. Credit Suisse ranked first for the entire year of 2019 on the M&A advisor league table.

For the debt-laden Doosan Group, Credit Suisse handled the sale of Doosan Corporation Mottrol, a hydraulic components manufacturer and the disposal of a majority stake in Doosan Solus Co., a copper foil and OLED materials maker, as well as the sale of Neoplux Co., the group's venture capital arm, in the third quarter.

It is currently managing the sale of a controlling stake in Doosan Infracore Co., the construction equipment builder, held by Doosan Heavy Industries & Construction Co.

Credit Suisse also handled SK Group’s sale of a controlling stake in SK Bioland Co., a raw materials producer for natural cosmetics, to Hyundai Department Store Group for 120.5 billion won. It also carried out Carlyle Group’s divestment of Yakjin Trading Corp.
On the league table, second-ranked JPMorgan managed three M&A transactions, worth a combined 3.3 trillion won, in South Korea in the nine months to September.
Among M&A legal advisors, Kim & Chang defended its top spot by a mile for the three quarters ending in September. It advised on 46 deals worth a combined 14 trillion won in Korea, including Doosan Group’s asset sales.

Samjong KPMG topped the list of accounting firms for M&A deals during the same period.

Write to Ri-Ahn Kim, Geun-Ho Im and Hyun-il Lee at knra@hankyung.com



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