H&Q Korea's Sale of JobKorea2021-03-24
Lee & Ko has advised H&Q Korea in the sale of 100% equity interest of JobKorea LLC, which it owned through its SPC, Jupiter Holdings Co., Ltd., to Affinity Equity Partners on March 24, 2021. As the legal counsel to H&Q Korea, Lee & Ko advised on all aspects of the transaction from the initial review stages up to the execution of the unit purchase agreement, including review and negotiations of the relevant agreements and analyses of relevant legal issues, and will continue to advise H&Q Korea up to the closing of the Transaction.
Although the Transaction was large in scale with a purchase price nearing KRW 900 billion (approximately USD 800 million) according to media reports, and demanding due to the limited time available for resolving the multitude of complex legal issues and negotiation of the unit purchase agreement, Lee & Ko provided efficient and accurate advisory services to H&Q Korea to successfully execute the unit purchase agreement. As a result, H&Q Korea was able to successfully exit in 8 years from its initial investment.