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Shinhan Financial Eyes Lotte General Insurance Acquisition Below 1 Trillion Won, Signaling Price Talks with JKL

GateNews
Stocks
According to Edaily, on July 25, Shinhan Financial Group's CFO indicated the company is considering acquiring Lotte General Insurance at below 1 trillion won, revealing active price negotiations with major shareholder JKL Partners. The acquisition price has dropped to roughly half its 2024 valuation of 2-3 trillion won. JKL Partners, which invested approximately 880 billion won since acquiring the insurer in 2019, faces resistance to accepting a sub-1-trillion-won deal after seven years of capital outlay. Shinhan Financial's CFO stated the M&A will proceed only within guidelines of the firm's "Value-up 2.0" program, which targets a common equity tier one (CET1) capital ratio of 13% or higher through 2028, limiting additional capital injection capacity for post-acquisition strengthening of Lotte General Insurance.
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