MBK Partners tipped to win battle for control of Korea Zinc

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The story "MBK Partners tipped to win battle for control of Korea Zinc" was covered 2 days ago by Korea Economic Daily, a news publisher based in South Korea.

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MBK Partners tipped to win battle for control of Korea Zinc - Korea Economic Daily

Quick Summary:

After completing its tender offer for the world’s largest lead and zinc smelter in October, MBK and Young Poong Corp.together bought an additional 1.36% stake in the company for 292.0 billion won ($208 million) in the market, according to a regulatory filing on Monday by their special purpose company set up for the tender offer.

A consortium led by North Asia-focused buyout firm MBK Partners edges closer to winning a battle for a control of Korea Zinc Inc.against the smelting company’s top management after it widened the shareholding gap, which industry watchers said looks difficult to be overturned.

By comparison, Korea Zinc Chairman Choi Yun-birm holds 17.01% of Korea Zinc shares, together with stakeholders and the US private equity firm Bain Capital after its buybacks last month.