Home / Business and Economy / Carlyle Buys Korean Rental Giant Chung Ho for $700M
Carlyle Buys Korean Rental Giant Chung Ho for $700M
8 Jun
Summary
- Carlyle Group is acquiring Chung Ho Group for $700 million.
- Chung Ho is a South Korean home and health-care appliance rental platform.
- Rising inheritance taxes are prompting sales by owners in South Korea.
Carlyle Group Inc. has entered into an agreement to purchase Chung Ho Group, a leading South Korean platform specializing in home and health-care appliance rentals. The acquisition is valued at $700 million.
This significant deal is partly driven by an increase in inheritance tax burdens within South Korea, which is encouraging business owners to consider selling their assets. People familiar with the matter indicated that Carlyle aims to acquire up to 100% of Chung Ho Group.
The move by Carlyle signifies a strategic investment in South Korea's growing rental market, particularly within the home and health-care sectors.
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