MSPEA completes quiet Korea acquisition
Morgan Stanley Private Equity Asia’s (MSPEA) investment in Ssangyong C&B and Monalisa is like an iceberg: only one sixth was immediately visible. When the deal was first announced earlier this year, the information disclosed concerned a South Korean listed entity, Monalisa Seoul. The PE firm paid KRW91.4 billion ($84.2 million) for a 66% stake in the business.
In actual fact, the transaction - which recently closed - involved five unlisted entities as well: tissue paper manufacturers Ssangyong C&B and Monalisa Daejeon, and then three ancillary companies in the...
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