E-Land to secure W1tr funds from Keystone
[THE INVESTOR] E-Land World, the de facto holding firm of Korean retail giant E-Land Group, is in talks with private equity firm Keystone to secure 1 trillion won (US$887.31 million) funds, according to industry sources on Sept. 13.
E-Land is considering selling about 20-30 percent convertible preferred stake to Keystone that plans to secure funding from institutional investors globally rather than taking loans.
With the planned funding, E-Land is expected to further improve its financial structure and speed up its stalled holding firm scheme.
The group lowered its debt-equity ratio to about 130 percent after it closed a deal selling its home furnishing business Modern House to MBK Partners, the nation’s largest private equity firm, in August.
By Song Seung-hyun (firstname.lastname@example.org)