MBK Partners Launches Tender Offer for Stake in Hankook &Co., Valued at $1.45bn

Dec 5, 2023 | News

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 $14.81 per share, valuing the South Korean battery storage maker at $1.45bn.

The offer represents an 18.9% premium to Hankook’s closing price of $12.46 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.

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MBK Partners is a South Korean private equity firm focused on North Asia. It was founded in 2005 by Michael ByungJu Kim and several other senior Asian executives from the Carlyle Group. The firm has over $25bn in assets under management and has invested in over 70 companies across China, Japan, and South Korea. MBK Partners has a strong track record of success. The firm’s flagship funds have generated an average net internal rate of return (IRR) of over 20%.

Hankook & Company is a South Korean holding company founded in 1941. It is the parent company of Hankook Tire & Technology, Hankook AtlasBX, Hankook Networks, and other subsidiaries. Hankook & Company is one of the largest tire manufacturers in the world. It has a global network of manufacturing and sales facilities. The company’s products are used in a wide variety of applications, including passenger cars, trucks, buses, and motorcycles. Hankook & Company is a leading global company with a strong track record of success. The company is well-positioned for continued growth in the future.

Source: Nazdaq

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