Carlyle Buys Chung Ho for $700 Million as Inheritance Tax Pressures Founding Family
Updated
Updated · Bloomberg · Jun 7
Carlyle Buys Chung Ho for $700 Million as Inheritance Tax Pressures Founding Family
1 articles · Updated · Bloomberg · Jun 7
Summary
$700 million will buy Carlyle up to 100% of Chung Ho Group, a South Korean home and health-care appliance rental platform, from members of its founding family.
The sale followed the chairman's death last year, which left the family facing a large inheritance-tax bill and without a qualified successor to run the business.
The deal highlights a broader pressure point in South Korea, where rising inheritance-tax burdens are increasingly pushing business owners and families toward asset sales.