HD Hyundai Oilbank and Tenet Equity Partners’ Acquisition of Daekyung O&T

Lee & Ko advised HD Hyundai Oilbank Co., Ltd. on its joint acquisition, together with Tenet Equity Partners Co., Ltd., of all issued shares in Daekyung O&T Co., Ltd. for KRW 470 billion.

Lee & Ko advised on the full transaction process, from the initial review of the transaction structure and related legal issues through negotiations with Tenet and the sellers and execution of the transaction documents. In addition to supporting negotiations between the seller and purchaser, Lee & Ko carefully structured and negotiated the shareholders agreement to balance the interests, rights and obligations of HD Hyundai Oilbank, whose principal objective was a strategic business alliance, and Tenet, whose principal objective was a financial investment. This advice played a key role in bringing the transaction to a successful signing.