MBK’s Korea Zinc bid aimed at corporate governance, shareholder value

Quick Summary:

MBK Partners’ takeover bid for Korea Zinc Inc.aims to improve corporate governance and shareholder value at the world’s largest lead and zinc smelter, the private equity firm’s founder and Chairman Michael ByungJu Kim said.“To put it simply, it’s all about governance and shareholder value,” Kim said in response to a question from a Korea Economic Daily reporter on Monday while attending the groundbreaking event for a library named after him in Seoul.

MBK, a private equity firm focused on Northeast Asia, argued that Korea Zinc’s current governance structure is problematic.Young Poong owns 33.1% of Korea Zinc as its largest shareholder, but Chairman Choi's Firm exercises management control with his 1.84% stake.

His comments mark MBK’s first official response to the MBK-Young Poong Corp.alliance’s bid to acquire a controlling stake in Korea Zinc – a tender offer that began Sept.13.

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Article Details

Category: Economy

Markets: South KoreaJapan

Topics: Equity Zinc Company Korea Shareholder Value Firm Private Governance Largest Library

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 11:17:18 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23420574

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