MBK agrees $1.1b deal for Korea’s Woongjin Coway
MBK Partners has agreed to pay KRW1.1 trillion ($1.1 billion) for a 31% stake in Woongjin Coway, the water purifier business of South Korean conglomerate Woongjin Holdings. It is the country’s joint-largest private equity transaction this year and brings to an end a confusing sale process that stretches back six months.
North Asia-focused MBK, which was set up by Michael Kim, former president of Carlyle Asia, will pay KRW50,000 per share, a 33% premium to Coway's closing price on Tuesday. Of the 31% stake, 28.4% comes...
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