Photo = Youngpoong

 

[Alpha Biz= Reporter Kim Sangjin] MBK Partners and Youngpoong have successfully acquired over a 5% stake in Korea Zinc through a public tender offer. Following this offer, which concluded on the 14th, the combined stake of MBK and Youngpoong in Korea Zinc has increased from 33.13% to nearly 40%, with 5.34% of shareholders participating in the offer.

Despite Chairman Choi Yun-bum's plan to acquire the remaining publicly traded shares through a buyback until the 23rd, their stake is expected to remain lower than that of MBK and Youngpoong. Should Choi's buyback of shares proceed as planned, the total shares acquired will not surpass MBK and Youngpoong's stake.

MBK has announced that they are now the largest shareholders of Korea Zinc and will focus on consolidating their management control while establishing transparent corporate governance to ensure the company's continuous growth. They emphasized that their immediate priority is to halt Choi's buyback of shares.

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