Korea Zinc Cancels $1.8 Billion New Share Sale after Triggering Unfair Practice Investigation by South Korea Regulator, Private Equity Firm MBK Partners & South Korea Conglomerate Young Poong Group Had Raised Buyout Offer by 13.6% to $11.6 Billion in 2024 September to Buy World Largest Zinc Smelter Korea Zinc in Hostile Takeover
14th November 2024 | Hong Kong
Korea Zinc ($15 billion market value) has cancelled the $1.8 billion new share sale after triggering unfair practice investigation by South Korea regulator. In 2024 September, private equity firm MBK Partners & South Korea conglomerate Young Poong Group raise buyout offer by 13.6% to $11.6 billion to buy world’s largest zinc smelter Korea Zinc in hostile takeover. Young Poong Group is currently Korea Zinc largest shareholder, and minority shareholders include Trafigura Group, Hanwha & LG Chem. Korea Zinc produces 5% of global refined zinc. Private equity firm MBK Partners has around $30 billion AUM. Korea Zinc Outside Directors: “Greetings shareholders and stakeholders of Korea Zinc. We are the outside directors of the Company, namely Yong-Rak Sung, Do-Hyun Kim, Bo-Young Kim, Min-Ho Lee, Dae-Won Seo, Soon-Beom Kwon, and Deok-Nam Hwang. As outside directors of Korea Zinc, we are proudly committed to serving the interests of, and enhancing value for, all shareholders of Korea Zinc, not just certain major shareholders, based on our expertise spanning the public sector, legal field, and academia. Furthermore, we can attest that Company management has hitherto maintained sound operations under the diligent oversight and monitoring of outside directors. Upon the unanticipated tender offer of Young Poong, a shareholder of the Company, together with a private equity fund, we rigorously deliberated on the offer from the standpoint of shareholder interests. Our conclusion is that we unanimously and emphatically object to the uninvited offer. The offer threatens to undermine the value of Korea Zinc as a private equity fund’s hostile takeover attempt.”
“ Korea Zinc Cancels $1.8 Billion New Share Sale after Triggering Unfair Practice Investigation by South Korea Regulator, Private Equity Firm MBK Partners & South Korea Conglomerate Young Poong Group Had Raised Buyout Offer by 13.6% to $11.6 Billion in 2024 September to Buy World Largest Zinc Smelter Korea Zinc in Hostile Takeover “
Korea Zinc Share Price Increased +29.9% in 1 Day to $17 Billion Market Value, Share Price YTD +134% & +156% in Last 5 Years, Private Equity Firm MBK Partners & South Korea Conglomerate Young Poong Group Had Raised Buyout Offer by 13.6% to $11.6 Billion in 2024 September to Buy World Largest Zinc Smelter Korea Zinc in Hostile Takeover
24th October 2024 – Korea Zinc share price has increased +29.9% in 1 day to $17 billion market value (24/10/24), with share price YTD +134% & +156% in last 5 years. In 2024 September, private equity firm MBK Partners & South Korea conglomerate Young Poong Group raise buyout offer by 13.6% to $11.6 billion to buy world’s largest zinc smelter Korea Zinc in hostile takeover. Young Poong Group is currently Korea Zinc largest shareholder, and minority shareholders include Trafigura Group, Hanwha & LG Chem. Korea Zinc produces 5% of global refined zinc. Private equity firm MBK Partners has around $30 billion AUM. Korea Zinc Outside Directors: “Greetings shareholders and stakeholders of Korea Zinc. We are the outside directors of the Company, namely Yong-Rak Sung, Do-Hyun Kim, Bo-Young Kim, Min-Ho Lee, Dae-Won Seo, Soon-Beom Kwon, and Deok-Nam Hwang. As outside directors of Korea Zinc, we are proudly committed to serving the interests of, and enhancing value for, all shareholders of Korea Zinc, not just certain major shareholders, based on our expertise spanning the public sector, legal field, and academia. Furthermore, we can attest that Company management has hitherto maintained sound operations under the diligent oversight and monitoring of outside directors. Upon the unanticipated tender offer of Young Poong, a shareholder of the Company, together with a private equity fund, we rigorously deliberated on the offer from the standpoint of shareholder interests. Our conclusion is that we unanimously and emphatically object to the uninvited offer. The offer threatens to undermine the value of Korea Zinc as a private equity fund’s hostile takeover attempt.”
Private Equity Firm MBK Partners & South Korea Conglomerate Young Poong Group Raise Buyout Offer by 13.6% to $11.6 Billion to Buy World Largest Zinc Smelter Korea Zinc in Hostile Takeover, Young Poong Group is Currently Korea Zinc Largest Shareholder, Minority Shareholders Include Trafigura Group, Hanwha & LG Chem, Korea Zinc Produces 5% of Global Refined Zinc, MBK Partners Has $30 Billion AUM
27th September 2024 – Private equity firm MBK Partners & South Korea conglomerate Young Poong Group raise buyout offer by 13.6% to $11.6 billion to buy world’s largest zinc smelter Korea Zinc in hostile takeover. Young Poong Group is currently Korea Zinc largest shareholder, and minority shareholders include Trafigura Group, Hanwha & LG Chem. Korea Zinc produces 5% of global refined zinc. Private equity firm MBK Partners has around $30 billion AUM. Korea Zinc Outside Directors: “Greetings shareholders and stakeholders of Korea Zinc. We are the outside directors of the Company, namely Yong-Rak Sung, Do-Hyun Kim, Bo-Young Kim, Min-Ho Lee, Dae-Won Seo, Soon-Beom Kwon, and Deok-Nam Hwang. As outside directors of Korea Zinc, we are proudly committed to serving the interests of, and enhancing value for, all shareholders of Korea Zinc, not just certain major shareholders, based on our expertise spanning the public sector, legal field, and academia. Furthermore, we can attest that Company management has hitherto maintained sound operations under the diligent oversight and monitoring of outside directors. Upon the unanticipated tender offer of Young Poong, a shareholder of the Company, together with a private equity fund, we rigorously deliberated on the offer from the standpoint of shareholder interests. Our conclusion is that we unanimously and emphatically object to the uninvited offer. The offer threatens to undermine the value of Korea Zinc as a private equity fund’s hostile takeover attempt.”
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