Private equity MBK Partners launches offer for 20% stake in Hankook & Co
![](https://nsn.asia/wp-content/uploads/https://onecms-res.cloudinary.com/image/upload/s--BYNV11Ue--/f_auto,q_auto/c_fill,g_auto,h_676,w_1200/v1/mediacorp/one-cms/images/2021-06/business_1.png?itok=rGtz_C8Z)
[ad_1]
:South Korean private equity firm MBK Partners said on Tuesday it had launched a tender offer to acquire a minimum of a 20.35 per cent stake in battery storage maker Hankook & Company.
MBK Partners said the tender offer is set at 20,000 won per share, valuing Hankook at 1.894 trillion won ($1.45 billion).
The offer represents an 18.9 per cent premium to Hankook’s closing price of 16,820 won in the last trading session.
The private equity firm said it is looking to take no more than a maximum target stake of 27.32 per cent in Hankook & Co, holding company of Hankook Tire & Technology.
Shares in Hankook & Co rose as much as 30 per cent to 21,850 won, hitting their highest since late February 2021. Shares in Hankook Tire & Technology were trading up 2.3 per cent as of 0443 GMT.
Ventura Corporation, a special purpose company established for MBK’s tender offer, said it will launch the public tender offer for Hankook’s shares listed on the Korea Stock Exchange, MBK Partners said in a statement.
($1 = 1,310.3700 won)
[ad_2]
Source link