MBK Partners drew a line under its six-year ownership in South Korea’s biggest water purifier manufacturer on Monday. It has agreed to sell its remaining 22.17% stake in Coway to founders Woongjin Group and private equity firm STIC Investment for W1.68 trillion $1.48 billion.
The Asia-focused private equity firm led by Michael B Kim, the “Godfather of Asian private equity will sell its entire 1.64 million shares in Conway to Woongjin ThinkBig for W103,000 per share. This represents a premium of 22.8% to the stock’s Friday close and values the company at $6.7 billion.
The transaction value suggests that ...
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