Byline: Gina Chon
SEOUL -- A consortium of CVC Asia Pacific Ltd., JP Morgan Partners Asia Ltd. and UBS Capital Asia Pacific Ltd. has bought Haitai Confectionery Co. for W415 billion ($320 million), marking another takeover of a company that fell apart in the wake of the 1997 financial crisis.
The consortium also obtained a seven-year W314 billion loan to finance part of the deal, with JP Morgan and Chohung Bank underwriting the loan, JP Morgan said in a statement released Friday.
In July, Haitai Confectionery signed a formal contract with the consortium to sell the company, which filed for bankruptcy in 1997. CVC Asia Pacific, JP Morgan and UBS …