Newbridge likely to join Chohung bidding
(South Korea) - American venture capital firm Newbridge Capital is expected to join with two other groups and form a consortium to bid for Korea's Chohung Bank, according to Seoul reports.
Newbridge, which already owns 51 percent of Korea First Bank, is expected to team with Japan's Shinsei Bank and US-based Cerberus Fund.
Four bidders, including a consortium run by Shinhan Financial Group, are conducing due diligence on Chohung.
Four bidders, including a consortium run by Shinhan Financial Group, are conducing due diligence on Chohung.
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