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October 09, 2024

Mergers & Acquisitions

Korea Zinc, MBK face-off for control of zinc smelter takes new twist

The face-off between Korea Zinc Inc. and MBK Partners for control of the world's No. 1 lead and zinc smelter shows no sign of abating as the private equity firm has again sweetened its bid for the South Korean company to match the latter's new buyback offer worth up to 3.1 trillion won ($2.4 billion). The private equity firm in a consortium with Young Poong Corp. said on Friday it has rais

Alternative investments

Alternative investment experts to gather at ASK 2024 on Oct. 16-17

South Korea’s major institutional investors and global asset managers will gather at the ASK 2024 global alternative investment conference on Oct. 16-17 to share their outlook for and discuss investment opportunities in private credit, real estate and infrastructure markets. Kim Tae-hyun, chairman of the National Pension Service (NPS), the world’s No. 3 pension scheme, and Park

Mergers & Acquisitions

MBK ups stakes for Korea Zinc to match buyback offer

A consortium of MBK Partners-Young Poong Corp. on Friday raised its tender offer price for Korea Zinc Inc. again and removed the lower limit of its share purchase to match the world’s top lead and zinc smelter’s share buyback proposal worth up to 3.1 trillion won ($2.4 billion), escalating their competition to take control of the smelting company. The MBK-led group said in a r

Mergers & Acquisitions

Korea Zinc, Bain Capital offer $2.4 bn share buyback vs MBK

Korea Zinc Inc. said on Wednesday it will buy back shares for 3.1 trillion won ($2.4 billion) with the backing of Bain Capital to counter MBK Partners’ attempt to take control of the world’s largest lead and zinc smelter. Its buyback price of 830,000 won per share is 10.7% higher than MBK's offer of 750,000 won. But Korea Zinc's market share price being below MBK's bid price,

League table

UBS retains top position on Korea’s M&A advisor list after Ecorbit deal

UBS Group AG remained on the top of the South Korean merger and acquisition (M&A) advisory market as of the end of the third quarter after adding the sale of Ecorbit Co. valued at 2.1 trillion won ($1.6 billion) to its list of deal arrangements. KB Securities Co. again dominated the country’s capital market deals, including both equity and debt sales worth 1.06 trillion won and

Pension funds

S.Korea’s NPS investment arm suffers from chronic understaffing

South Korea’s largest institutional investor, the National Pension Service (NPS), managing 1,150 trillion won ($870.6 billion) in assets, struggles to recruit investment managers, raising concerns about the quality of its fund management capabilities. According to NPS data obtained by Kim Sun-min, a lawmaker with Korea’s Rebuilding Korea Party, on Tuesday, the number of NPS In

Artificial intelligence

AI startup MarqVision raises $16.5 mn to close Series A round

MarqVision Inc., a startup developing an artificial intelligence-powered intellectual property (IP) protection platform, raised 22 billion won ($16.5 million) to close a Series A funding round totaling 50 billion won. MarqVision founded by South Korean Harvard Law School graduate Mark Lee in 2020 said on Friday that Altos Ventures, Smilegate Investment and Hillspring Investment participate

Robotics

HL to acquire French parking robot firm Stanley Robotics for $24 million

HL Group, the construction-to-auto parts conglomerate in South Korea, will acquire the world’s sole outdoor self-driving parking robot-producing company, Stanely Robotics SAS, for about 32 billion won ($24 million) as it is seeking to foster autonomous parking robots as one of its new growth drivers. The company announced on Tuesday that HL Robotics, HL Holdings Corp.'s fully-owned

Banking & Finance

Hanwha Securities buys 5.4% stake in Edinburgh Airport

Hanwha Investment & Securities said on Monday that it acquired a stake in Edinburgh Airport in Scotland. Edinburgh Airport is jointly owned by Global Infrastructure Partners (GIP), a world-renowned infrastructure investment management firm, and VINCI Airports, with GIP holding a 49.99% stake and VINCI Airports holding 50.01%. Hanwha Investment & Securities acquired 5.4% (around $9

Energy

Hanwha Q Cells sells 142 MW solar power plant in Washington

Hanwha Q Cells Co., a solar panel manufacturing arm of South Korea's Hanwha Solutions Corp., said on Wednesday that it sold a 142-megawatt solar power project in Washington State. The buyer is Puget Sound Energy, Inc. (PSE), the largest utility energy provider in Washington State. The sale price was not disclosed. Hanwha Q Cells had been carrying out the initial development work for the p

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This is a weekly newsletter of the Korean Investors by the Korea Economic Daily. The Korean Investors is the news and intelligence outlet that keeps the global investment community updated with the latest news on Korean asset owners: pension, sovereign wealth and savings funds, and insurers.
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