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[Alpha Biz=(Chicago) Reporter Paul Lee] Private equity fund (PEF) operators MBK Partners and Unison Capital Korea (UCK) will acquire management rights of Osstem Implant, South Korea's No. 1 implant company.
According to the investment banking (IB) industry on the 24th, MBK Partners and UCK will jointly make a public purchase for a month to acquire a stake in Osstem Implant. It will acquire about half of the stake (20.6%) of Chairman Choi Kyu-ok, the largest shareholder of Osstem Implant, for 190,000 won per share and at the same time announce a large-scale public offering on the 25th.
The open purchase price was set at 190,000 won per share, the acquisition price of the major shareholder's management rights. This is 16.9% higher than the stock price of Osstem Implant (the closing price of 162,500 won on the 20th).
The number of shares to be publicly purchased ranges from at least 2.39 million shares (16%) to up to 11.17 million shares (75%). The PEF alliance raised 2.125 trillion won in public purchase funds. It borrowed 1.7 trillion won, which was reportedly funded by NH Investment & Securities, which was in charge of the public purchase.
The MBK-UCK Alliance formed a relationship by selling Medit, a dental oral scanner company. MBK Partners signed the main contract to acquire Medit from UCK for about 2.45 trillion won at the end of last year. The two PEFs are reportedly pushing for the deal, judging that the synergy between Medit and Osstem Implants is great.
AlphaBIZ 폴리(hoondork@alphabiz.co.kr)
