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Shinhan Financial Group to acquire Lotte Insurance for $516 million
Shinhan Financial Group has signed an agreement to acquire a 77.04% stake in Lotte Insurance from private equity firm JKL Partners for 693.3 billion won ($516 million). Following regulatory approval, Shinhan plans to acquire the remaining shares and merge Lotte Insurance with its existing non-life insurance subsidiary, significantly expanding its presence in Korea's non-life insurance market.
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