Pension fund to assist Dongwon with Calvo bid

South Korea’s National Pension Service (NPS), the world’s fourth-biggest pension fund, is set to assist Dongwon Industries finance its bid to acquire Calvo Group.

The pension fund is poised to make the first investment from a KRW 8 trillion (€5.4 billion/$7.2 billion) scheme intended to help accelerate overseas acquisitions by the country’s companies, reports the Financial Times.

NPS is ready to help fund Dongwon’s acquisition of Spanish tuna company Calvo Group as part of this. Calvo is dominant in the Spanish market and also owns Gomes da Costa in Brazil, which is the largest canned seafood brand in this developing market.

Calvo