Hyundai Group to Remain in Yeonji-dong Building.. Preferred Bidder is Bolt Asset Management

[Financial News] Hyundai Group is likely to remain in its Yeonji-dong building in Seoul. This will be through a sale and leaseback arrangement.
Hyundai Elevator announced on the 14th that it has selected Bolt Asset Management as the preferred bidder for the Yeonji-dong building.
Previously, Hyundai Group had been pushing for the sale of the Yeonji-dong building by selecting Samjeong KPMG as the sales advisor. It is known that Koramco Asset Trust, Koramco Asset Management, D&D Investment, Keppel Asset Management, Capstone Asset Management, Pacific Asset Management, Hyundai Investment Asset Management, and Stick Alternative Asset Management competed in the bidding.
Previously, Hyundai Elevator sold the Yeonji-dong building to Koramco Asset Management in 2012. It was repurchased for 250 billion won five years later in 2017. At that time, Hyundai Elevator raised 150 billion won through the issuance of corporate bonds and secured 100 billion won through internal funds and bank loans for the acquisition of the building.
The Hyundai Group building consists of two buildings on a site of 11,179.7㎡, with the East Wing (12 floors above ground and 4 floors below ground) and the West Wing (16 floors above ground and 4 floors below ground). 


ggg@fnnews.com Kang Gwi-gwi Reporter