Private equity MBK Partners launches offer for 20% stake in Hankook & Co (updated)

HANKOOK & COMPANY

05/12/2023 02:15

(Updates with tender offer price, stake and background details
from paragraphs 2-5)
       Dec 5 (Reuters) - South Korean private equity firm MBK
Partners said on Tuesday it had launched a tender offer to
acquire a minimum of 20.35% stake in battery storage
manufacturer Hankook & Company  000240.KS .
    MBK Partners said that the tender offer is set at 20,000 won
per share, valuing the South Korean battery storage maker at
1.894 trillion won ($1.45 billion).  
        The offer represents an 18.9% premium to Hankook's
closing price of 16,820 won in the last trading session.
  
        The private equity firm is also looking to acquire a
maximum target stake of 27.32% in Hankook & Co, the holding
company of Hankook Tier & Technology  161390.KS . 
        Ventura Corporation, a special purpose company
established for MBK's tender offer, said that 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)

 (Reporting by Rajasik  Mukherjee and Shivangi Lahiri; Editing
by Dhanya Ann Thoppil)
 ((Rajasik.Mukherjee@thomsonreuters.com;))