(Sejong = Yonhap News) Reporter Su-yeon Soo = As the industry reorganizes with the corona 19 incident, the domestic M&A market is also heating up this year.
The aviation industry, which was hit by the Corona 19 direct hit, is undergoing rapid restructuring, such as Korean Air’s acquisition of Asiana Airlines. On the other hand, the non-face-to-face service industry and the semiconductor industry, where’random price’ is high, are gaining strength. The investment banking (IB) industry’s interest in’Yogiyo’, a delivery app company that is a’trillion unit’ for sale, is particularly hot.
M&A deals aimed at avoiding the process of reviewing business combinations, which will be strengthened from next year, are expected to pour out this year. It is analyzed that both the amount and the number of M&A transactions this year are far above the average level.
◇’Two trillion ransom’ Yogiyo, Max.
According to the industry and related ministries on the 17th, the’big fish’ business combination review, such as Korean Air’s acquisition of Asiana Airlines, is continuing this year. In the case of Korean Air, on the 14th, it submitted a business combination declaration related to the acquisition of Asiana Airlines shares to the competition authorities of nine countries, including Korea, the United States, Japan, China, and the European Union (EU).
Since its establishment in 1988, Asiana Airlines, which has maintained its position as the No. 2 business operator in Korea, is staggered by the unreasonable expansion of its parent company.
Eastar Jet, which failed to take over by Jeju Air last year, recently applied for corporate rehabilitation procedures. In the IB industry, it is observed that Eastar Jet will proceed with the sale as early as the first half of this year after going through the legal management process.
IB experts predict that the auto parts and shipbuilding equipment sectors have also suffered sluggish sales since before the Corona 19 incident, so a number of related companies are expected to come out for sale after legal management this year.
This year’s IB industry is paying attention to the delivery app Yogiyo. The food service industry estimates that Yogiyo’s sale price is about 2 trillion won, which is half of the people of delivery (about 4,800 billion won). As the delivery app market is growing rapidly right after Corona 19, competition for acquisition is expected to intensify. Hyundai Motor Securities estimates that the amount of transactions in the domestic delivery app market increased 10 times from 2015 (1.5 trillion won) to 11 trillion won last year.
The semiconductor industry, which benefited from the growing demand for non-face-to-face products last year, also launched an M&A to expand production capabilities. Representatively, SK Hynix decided to acquire Intel’s NAND business by investing KRW 10.3 trillion, the largest M&A history in Korea.
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◇ “Avoid the corporate combination examination”… M&A rapid flow
It is also a variable in M&A transactions this year that the examination of corporate defects will be strengthened next year with the passage of the revision bill of the Fair Trade Act. An analysis suggests that M&As may flock from the second half of this year to the end of the year in order to avoid the corporate combination review next year.
Until the end of this year, if the acquisition target company’s total sales or assets do not exceed 30 billion won, it is not necessary to undergo a business combination review by the FTC. However, starting next year, when the amendment to the Fair Trade Act goes into effect, even if the sales amount is less than 30 billion won, if the transaction amount exceeds a certain scale, it must undergo an examination by the Fair Trade Commission. If you buy a startup that is about to grow with a large amount of money, you have to go beyond the corporate combination screening unlike in the past.
The FTC plans to clarify the standards for the amount of transactions in the examination of business combinations by revising the subsequent enforcement decree.
“M&A deals are pouring out after the real economy worsens, including the Corona 19 incident.” Together, the M&A market this year is expected to be more abundant than in previous years.”
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2021/01/17 06:45 sent