[백브리핑AI] Is the KT&G separation procedure going?… Appointed to Goldman Sachs following Kim & Chang

[인포스탁데일리=김영택 기자] Following KT&G’s appointment of Kim & Chang as its legal advisor, Goldman Sachs was selected as its advisory firm.

Interest centers on the background of signing an agreement with Goldman Sachs.

One of the media reported that KT&G signed an advisory contract with Goldman Sachs.

Choi Yang-oh, head of ISD’s Corporate Policy Institute, explained, “Isn’t the appointment of an advisor to Goldman Sachs a stepping stone for a strategic response to Ginseng Corporation’s separate listing?”

It appears to be a systematic response to issues such as separately listing Ginseng Corporation and giving management a stop option in relation to the input of Kim & Chang and Goldman Sachs.

Some believed that there is a high possibility that Goldman Sachs will act as the underwriter of Ginseng Corporation’s listing in the future, and that it can provide advice based on this premise.

Flashlight Capital Partners (FCP), a private equity fund in Singapore, recently proposed to list KGC Ginseng Corporation separately from KT&G.

Focusing on the main business, expanding the global market share, etc., KT&G plans to separate and cultivate KGC Ginseng Corporation, and KT&G raises corporate value through massive investment in the main business.

KT&G is very careful about this.

It is known that internally he is very concerned about this proposal from shareholders.

In fact, KT&G announced in its 3rd quarter earnings conference call that it would “gather the opinions of various shareholders and review them in terms of improving shareholder value.”

With regard to the appointment of Kim & Chang’s legal advisor and Goldman Sachs advisor, this is where the observation that the separate listing is accelerating increases.

Some are analyzing that the separation of KT&G from KGC Ginseng Corporation will have more losses than gains, so it is difficult to judge hastily.

Reporter Kim Young-taek [email protected]

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