CLSA wins Korea outbound mandate
Nexen Tire Corp. posted net sales of KRW1.73 trillion ($1.7 billion) in 2013 and is responsible for 20% of tire sales in South Korea, the fifth-largest market globally both for auto production and auto exports. The company has an established global presence and ambitions to consolidate its position, but outbound activity has been limited to date.
Indeed, since 2004, there have only been about 30 disclosed outbound deals by Korean companies in the auto and components space, with an average value of $14 million, according to S&P Capital IQ. By comparison,...
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