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(Photo=GLOBAL SAE-A) |
[Alpha Biz= Reporter Paul Lee] GLOBAL SAE-A Group has finalized its acquisition of Jeonju Paper. As a result, it is anticipated that the group, which already holds Hansol Paper, will establish a strong presence in the paper industry.
According to investment banking sources on the 3rd, Taerim Paper, a subsidiary of GLOBAL SAE-A Group, completed the payment for the acquisition of Jeonju Paper and its affiliate energy company, Jeonju One Power, on the same day. The total payment amounted to 494.9 billion won, including 140.7 billion won for Jeonju Paper and 354.2 billion won for Jeonju One Power. The enterprise value (EV), including borrowings, was set at 6.5 trillion won.
Previously, in December of last year, Taerim Paper had signed a contract to acquire 100% of the shares of Jeonju Paper and Jeonju One Power from global private equity firm Morgan Stanley PE and Shinhan Asset Management. Taerim Paper secured a significant portion of the acquisition amount, approximately 400 billion won, through acquisition finance loans. The acquisition financing consortium included KDB Industrial Bank, as well as Shinhan Bank, KB Kookmin Bank, and Woori Bank.
GLOBAL SAE-A is the world's leading company specializing in OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) for clothing brands. To diversify its business portfolio, it has been acquiring construction, plant, and paper companies one after another, expanding its business scope.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
