Korea’s Woori Bank Fails to Sell, GIC and Affinity Withdraw

Singapore’s sovereign wealth fund GIC Private Limited and private equity firm Affinity Equity Partners are withdrawing their joint bid for Seoul-based Woori Bank. This is the fourth time the state-run Korea Deposit Insurance Corporation (KDIC), Woori’s major shareholder, has been trying to sell a controlling stake in the bank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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