Sovereign Asset Management, the private investment vehicle of New Zealand's Chandler brothers, has ended its two and a half year love-hate relationship with Korean equities. Yesterday it completed its sale of LG Group companies, LG Electronics and LG Corp - a move that follows its far more controversial exit from SK Corp.
Korea inc may well breathe a sigh of relief at this news, since Sovereign had proven to be a thorn in the side for the corporate sector. Sovereign did a good job of raising awareness of corporate governance and forced many positive changes, but it has to be said that its tactics were not an overwhelming success. For more...
