When KT Corporation decided to sell stakes in NTC, it selected an Intralinks® critical information exchange solution to present due diligence documents to potential bidders. The end result was the successful $346 million sale to VimpelCom.
"It was of utmost importance that we presented a best in class solution for the provision of data to our bidders. Intralinks helped us achieve this and played a vital part in the success of our due diligence process. Intralinks’ VDR solution is secure, reliable and simple to implement and we would definitely use them again.”
– Yeonmi Park, KT Corporation
KT Corporation, South Korea’s leading telecommunications company, decided that in order to accelerate its global investment opportunities, it needed to dispose of its subsidiary, NTC, a communications provider in Russia’s Maritime Province of Siberia.
To ensure the due diligence process ran smoothly, KT Corporation needed a simple and secure way to present and exchange its confidential information. From previous experience, KT Corporation found that traditional methods such as email, fax or courier, were hard to manage, control and monitor. The company sought an online solution to give bidders selective access to thousands of pages of data in a quick, efficient and secure environment.
KT Corporation looked to its investment banking advisor for recommendations on virtual data room (VDR) providers to assist in its M&A and post merger integration processes. Also, knowing its financial advisors — as well as most of the financial and legal communities worldwide – preferred Intralinks made KT Corporation’s decision to use Intralinks an easy one.
KT Corporation ultimately selected Intralinks’ VDR solution as it provided the most advanced and secure technology on the market. Another key differentiator KT Corporation highlighted in its buying decision was the ability to add files in bulk, index information, and set permissions for multiple groups which also enabled audit tracking of the type, amount, and timing of review by bidders, delivering intelligence and insight into buying intent.
Within six months of opening the Intralinks VDR, KT Corporation sold a 79.96 percent stake in NTC to Russian operator VimpelCom for $346 million.
KT Corporation found that the most significant benefits of using Intralinks’ VDR were enhanced confidentiality and time efficiencies as documents were uploaded instantaneously and make available to potential bidders across the world immediately. KT Corporation commented that the Intralinks customer service was extremely helpful in setting-up the VDR, providing the necessary training and support throughout the process.