(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.