| South Korea’s sovereign-wealth fund says it is no longer pursuing a stake in the Los Angeles Dodgers. The Wall Street Journal reported in April that Korea Investment Corp. was interested in purchasing a minority stake in the Major League Baseball team. The Dodgers’ owners also had held discussions with a number of other interested organizations, the Journal reported at the time.
KIC is no longer pursuing a deal after conducting due diligence, said people with knowledge of the matter. These people didn’t say why KIC, which manages about $85 billion in assets, walked away. Korean news reports earlier had cited some Korean law makers’ criticism of the involvement of KIC’s chairman and chief executive, Hongchul Ahn, in the deal...............................................Full Article: Source
|