American private equity specialists Carlyle Group has formed a consortium with American International Group jointly to make final bids for two South Korean asset managers, according to a Reuters report.
British insurer Prudential has also submitted binding bids in a consortium with buyout fund Olympus Capital and South Korea’s small brokerage, Seoul Securities, for Daehan Investment & Securities and Korea Investment & Securities.
Kookmin Bank dropped out of the auction after its consortium with JP Morgan was chosen as one of seven preliminary bidders in April, the source told Reuters.