Shinhan Financial Group is moving to acquire Lotte Insurance in a deal valued at 693 billion won (about $518 million), industry sources say. Shinhan Financial’s board approves taking over a 77.04% stake in the non-life insurer, with the transaction aimed at expanding and diversifying its business portfolio.
The acquisition is set to be purchased from private equity firm JKL Partners. Shinhan Financial also plans to buy the remaining 22.96% stake later, subject to regulatory approval. Both outlets report the key figures: the stake percentage, the total deal value, and the two-step structure involving an initial majority purchase followed by a subsequent acquisition of the rest of the company.
While the sources differ mainly in how they frame the announcement, they align on the central terms—price, ownership percentages, the seller, and the condition that final ownership depends on regulators.
