mando-sale-marks-halla-comeback

Mando sale marks Halla comeback

Korea's Halla Engineering will pay $685 million to regain control of the auto parts business after selling the company to private equity buyers nearly a decade ago.
Halla Engineering and Construction, an entity of one of KoreaÆs largest chaebol Halla Group, has signed a preliminary agreement to buy a 72% stake in Korean brakes and steering manufacturer Mando from private equity investors, CCMP Capital and Affinity Equity.

The deal means that Halla will regain control of a business that it was forced to sell to the private equity firms following the Asian financial crisis. CCMP and Affinity, meanwhile, will cash in on a stake they have held since 2000, which they purchased from Halla for $446 million.

If the transaction is successful, Halla will buy the 72% stake for W650 billion $685 million, equal to about 5.4 million shares at roughly...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222