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KKR, Carlyle Group join to compete for Logen LogisticsBy 박한나
Published : Aug. 24, 2016 - 17:32
According to officials at an investment bank, US-based private equity firm the Carlyle Group and KKR have been conducting due diligence on Logen to join the bidding race.
The two firms are the latest to express interest in the acquisition deal that fizzled out when short-listed global logistics giants DHL and UPS dropped out of the running after finding the price tag would be too high in June.
Before the new runners appeared, only two firms -- CVC Capital and Affinity Equity Partners -- were expected to vie for Logen.
The move gives fresh hope to Hong Kong-based PEF Baring Private Equity Asia, which has been looking for an exit via an acquisition deal.
Baring PEA expects the deal could fetch around 400 billion won (US$357 million). It bought the entire stake in Logen for 158 billion won in 2013.
By Park Han-na (firstname.lastname@example.org)
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