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Sibling rivalry for Hankook Tire control takes new turn as MBK steps in

Korea Economic Daily LogoKorea Economic Daily2 mo ago

Sibling rivalry for Hankook Tire control takes new turn as MBK steps in - Korea Economic Daily

Quick Summary:

We’re seeking improved corporate governance, innovation, enhanced shareholder value and stable financial structure.” DEAL BETWEEN MBK PARTNERS AND CHO HYUN-SIKMBK Partners-backed Ventura, Cho Hyun-sik and Cho Hee-won on Nov.30 signed a deal regarding how to exercise their rights as the main shareholders of Hankook & Company and run the company if they successfully acquire enough stakes in it.

Cho Hyun-sik, advisor to Hankook & Company Co., the holding company of Hankook Tire, has teamed up with MBK, a Seoul-based private equity firm, to openly buy Hankook & Company’s shares from retail investors through a newly launched investment company, Ventura Co.

The daughter questioned her father’s decision and filed an adult guardianship request with a local court, saying “We must determine whether his [the father’s] decision was made voluntarily and in a healthy state of mind.”She has a 0.81% stake in Hankook & Company.


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Sibling rivalry for Hankook Tire control takes new turn as MBK steps in - Korea Economic Daily (Picture 1)Sibling rivalry for Hankook Tire control takes new turn as MBK steps in - Korea Economic Daily (Picture 2)Sibling rivalry for Hankook Tire control takes new turn as MBK steps in - Korea Economic Daily (Picture 3)Sibling rivalry for Hankook Tire control takes new turn as MBK steps in - Korea Economic Daily (Picture 4)Sibling rivalry for Hankook Tire control takes new turn as MBK steps in - Korea Economic Daily (Picture 5)

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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-12-05 @ 16:19:25 (2 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 1050 words

Reading Time: 6 minutes read

Sentences: 45 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 19096271

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Year Established: 1964

Headquarters: South Korea

News Last Updated: 1 days ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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