21.04.2015 - KIC breaks rules in bid to invest in LA Dodgers: lawmaker
South Korea's sovereign wealth fund has violated its own rules in its move to buy into the Los Angeles Dodgers, a lawmaker said Tuesday. The Korea Investment Corporation (KIC), which manages assets entrusted by South Korea's central bank, has reportedly been in talks to buy a 19 percent stake in the baseball club from U.S.-based investment firm Guggenheim Partners, a deal estimated at 400 billion won (US$369 million). Rep. Park Won-suk said KIC chief Ahn Hong-chul's meeting with executives of Guggenheim Partners, an investment firm that owns the team, on Jan. 12 violated internal guidelines limiting the chairman's role. The KIC rules stipulate that the chairman can only take part in the investment process at the very last moment when a committee is formed to make a final decision.........................................Full Article: Source
Print