[Alpha Biz=(Chicago) Reporter Paul Lee] SM Group, a strong mergers and acquisitions (M&A), is expected to become the new owner of KUK-IL PAPER MFG, which is undergoing corporate rehabilitation procedures (court receivership).

According to the investment banking (IB) industry on the 17th, Samjeong KPMG, the managing director of Kukilji, recently selected SM Group as the preferred bidder for the stalking horse deal (preliminary buyer) method. An affiliate of SM Group is known to have become a buyer of the stalking horse deal.

SM Group, real estate developer Shinyoung Group, and Fine Street PE, which jumped into the KUK-IL PAPER MFG acquisition race, participated in the preliminary bidding. Q Capital, a private equity fund, was also active before the acquisition by submitting a letter of intent (LOI), but withdrew from the preliminary bid.

SM Group is said to have entered the KUK-IL PAPER MFG acquisition race to expand its new business.

Founded in 1978, KUK-IL PAPER MFG is a company that manufactures and sells special paper and industrial land. It is said to be highly skilled enough to monopolize the domestic tobacco market.

 

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