MBK, Young Poong close in on majority of Korea Zinc

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But both of them failed to secure a majority of Korea Zinc.“MBK Partners and Young Poong have expanded their position as the largest shareholders of Korea Zinc,” MBK said in the press release.“This acquisition lays a strong foundation for reclaiming our rights as the largest shareholder, including management control rights which legitimately belong to the largest shareholder, and serves as a pivotal step towards strengthening the company’s corporate governance,” said the private equity firm’s representative.

A consortium of MBK Partners and Young Poong Corp.has raised its stake in Korea Zinc Inc.to 46.7% of voting shares, positioning the group closer to a majority control of the world’s largest lead and zinc smelter, MBK said on Thursday.

The latest purchase has increased MBK Partners and Young Poong’s combined stake in Korea Zinc to 40.97% of the total issued shares and 46.7% of the voting shares, excluding treasury stock, MBK said in a press release.

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Article Details

Category: Economy

Markets: South Korea

Topics: Young Share Shares Zinc Voting Shareholder Stake Poong Largest Korea Partners

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 16:48:36 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 439 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 24545703

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