An office building in Jongno-gu, Seoul, which houses the headquarters of Korea Zinc. (Photo: Yonhap News)

 

 

[Alpha Biz= Reporter Kim Sangjin] MBK Partners, which is in a dispute over the management rights of Korea Zinc with Chairman Choi Yoon-beom's side, has strongly denied allegations of violating a non-disclosure agreement (NDA) signed with Korea Zinc two years ago.

On the 4th, MBK issued a statement explaining, "MBK’s 'buy-out' and the 'special situations' division, which engages in minority equity investments and private bond investments, are managed by separate entities."

It further elaborated, "The 'buy-out' and 'special situations' divisions are essentially separate and are strictly divided by a 'Chinese wall' to prevent internal information exchange. This separation applies not only in Seoul but also in Tokyo, Hong Kong, and all of MBK's offices, where there is no exchange of information between the two divisions."

MBK emphasized, "The 'buy-out' division was completely unaware of the NDA signed by the 'special situations' division with Korea Zinc or any documents like the 'Troika Drive' report allegedly received from Korea Zinc. Neither the 'buy-out' division nor the 'special situations' division has ever violated any NDA."

They also stated, "It is not logical to claim that completely separate investment management entities used information from two years ago for a public tender offer. Even in urgent situations, disclosing the existence of a private NDA would create legal issues and raise doubts about ethics and integrity."

 

 

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