The final bidding for the sale of KDB Life is scheduled to take place on the 7th. As this marks the seventh attempt to sell the company since it was first put on the market in 2014, attention is focused on whether a new owner can be found after 12 years.
According to the financial sector, Korea Development Bank will conduct the final bidding for the sale of KDB Life by 3 p.m. today. The bank has no plans to issue any official statement after the final bidding deadline. Industry sources indicate that Samsung Life and Heungkong Life are considered the most likely acquirers, so their participation is expected. Meanwhile, Korea Investment Financial Holdings is reportedly still reviewing whether to participate in the bidding until the last moment.
Samsung Life and Heungkong Life have been the most active participants in the acquisition race, each forming a task force (TF) and proceeding with due diligence and acquisition strategy planning. It is reported that Samsung Life aims to strengthen its sales channels by securing KDB Life’s corporate insurance agency (GA) network, while Heungkong Life is focusing on expanding market share and enhancing business competitiveness.
Since the initial sale attempt in 2014, KDB Life has failed to find an acquirer multiple times, leading to repeated cancellations of the sale. However, given that Korea Development Bank appears more determined than ever to proceed with the sale, the insurance industry expects a high likelihood of finding a new owner in this final bidding. In fact, the preliminary bidding held last June saw participation from five companies—Samsung Life, Hanwha Life, Kyobo Life, Heungkong Life, and Korea Investment Financial—boosting expectations for a successful transaction.
in FINANCE
