[Alpha Biz=(Chicago) Reporter Kim Jisun] According to the Financial Supervisory Service's electronic disclosure system on the 15th, honorary chairman Cho acquired 2,583,718 shares of Hankook & Company (2.72%) in the market for 22,056 won per share on the 7th. It is worth 56.98648 billion won.

This is to support Cho Hyun-beom, the second son of Hankook & Company (42.03% stake) from the hostile M & A attempt of MBK Partners, which joined hands with the eldest son Cho Hyun-sik Hankook & Company advisor (18.93%) and second daughter Cho Hee-won (10.61%) to secure Hankook & Company management rights.

It is the first time in three and a half years that honorary chairman Cho has acquired a stake in Hankook & Company since June 2020. At that time, he handed over his entire stake (23.59%) to Cho, the second son of honorary chairman Cho, through after-hours mass trading (block deal) and stepped down from the management front. Honorary Chairman Cho was recently a private equity fund (PEF) manager

MBK Partners plans to buy at least 20.35% of Hankook & Company shares at 20,000 won per share by the 24th. If successful in tendering, MBK's stake will increase to more than 50% and take management control.

 

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