MBK Partners pays $1.1 billion for Woongjin Coway stake

After its disappointment at failing to snap up Hi-Mart last month, private equity firm MBK Partners buys a 30.9% holding in Woongjin Coway, Korea's leading water purifier maker.

MBK Partners pays $1.1 billion for Woongjin Coway stake

There are further signs that Korea is experiencing significant changes in its corporate landscape, as assets are shuffled between leading conglomerates and private equity firms. Often, the febrile activity matches the debt-burdened with the cash-rich.

The latest deal was announced yesterday, as Woongjin Holdings said it will sell Woongjin Coway, a leading Korean water purifier manufacturer, to MBK Partners for W1.2 trillion $1.1 billion.

MBK will pay W50,000 a share for...

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