Viva Republica, the operator of Toss, has withdrawn its acquisition plan for Maston Capital.
According to the investment banking (IB) industry on the 8th, Viva Republica did not participate in the main bidding for Maston Capital held the previous day. The sale was managed by Deloitte Anjin.
Maston Capital is a financial company established in 2022 through a joint investment by Maston Investment Management and NH Investment & Securities. It engages in capital operations such as corporate finance, lease finance, and dwelling finance. Maston Investment Management holds over 60% equity, while NH Investment & Securities holds around 30% equity.
Initially preparing to enter the capital business, Viva Republica actively pursued the acquisition of Maston Capital. It is reported to have made the highest bid in the preliminary tender held last month. However, after reviewing several conditions, it ultimately decided to withdraw its acquisition plan.
A Viva Republica official noted, "It is correct that we conducted due diligence after the preliminary bidding, but we did not participate in the main bidding. However, we are still reviewing our entry into the capital business."
Meanwhile, the Science and Technology Personnel Mutual Aid Association, which was considered a strong candidate for acquiring Maston Capital, also reportedly did not participate in the main bidding. The participants in the main bidding were confirmed to include the educational foundation Hyungang Academy and domestic private equity firm (PEF) managers.