Who is the Korean tycoon who wants to sell Landmark 72?

Portrait of the business that wants to sell Landmark 72

According to information from The Korea Economic Daily , Global Reinsurance Company AON Plc, the owner of the Landmark 72 3-building complex, wants to sell 100% of its shares for more than 1,000 billion won (about 18,500 billion VND).

According to investment banks in Seoul, South Korea's Mirae Asset Securities is negotiating with potential investors to sell all of the building's shares.

In 2015, surpassing Goldman Sachs and the Qatar Investment Authority (QIA), AON successfully purchased this property for 454 billion won (nearly 8,400 billion VND at the current exchange rate) from SM Keangnam Enterprises Ltd.

AON Plc is a multinational financial company headquartered in London, England. The company was founded in 1982, after the Ryan Insurance Group merged with Combined Insurance Company of America.

Landmark 72 3-building complex in Hanoi (Photo: HDG).

The company operates in three main areas under the names of three small businesses: Aon Risk Solutions providing professional services in the field of risk management, Aon Benfield operating in the field of insurance brokerage, reinsurance brokerage and Aon Hewitt answering questions and consulting customers on human resources.

In terms of business results, by the end of June, AON recorded revenue of up to 7.83 billion USD, up 11% compared to 7.04 billion USD last year. Explaining this growth, AON said that their retail brokerage company recorded double-digit growth in the markets of Europe, the Middle East, Africa, Asia - Pacific ...

Continuously shopping "wildly"

Notably, AON has continued to expand its global presence through mergers and acquisitions. In 1997, the company acquired The Minet Group and the UK securities insurance company Alexander & Alexander Services. This deal officially made AON the world's largest securities insurance broker.

In 1998, the company doubled its workforce by acquiring Spain's largest insurance brokerage Gil y Carvajal, as well as establishing Korea's first foreign-owned insurance company, AON Korea.

In 1999, the company acquired the Italian insurance group Nikols Sedgwick, establishing a joint venture RiskAttack with the American company Zurich US, operating in the field of risk analysis and financial management for technology companies.

AON focuses on securities brokerage and advisory services. In 2008, the group acquired the UK reinsurance and capital advisory company Benfield Group Limited for $1.75 billion. This large-scale deal made AON one of the largest players in the reinsurance brokerage industry.

Two years later, AON made the largest merger in history, buying the US-based Hewitt Associates Group for $4.9 billion.

In 2009, AON topped AM Best's ranking of global insurance brokers, based on brokerage revenue and voted for best insurance intermediary, best reinsurance intermediary and best intermediary management by readers of Insurance Business.

To date, AON operates worldwide with more than 500 offices in more than 120 countries and approximately 66,000 employees.

Landmark 72 is a mixed-use office building completed in 2012 by Keangnam Enterprises consisting of a 72-storey mixed-use tower with a height of 350m and two 48-storey twin towers with a height of 212m. This property was the tallest skyscraper in Vietnam until Vingroup Corporation built the 81-storey Landmark 81 building with a height of 461m in 2018.

Source: https://dantri.com.vn/kinh-doanh/dai-gia-han-quoc-muon-ban-landmark-72-la-ai-20240923143218864.htm