The equity stake held by MBK Partners and Youngpoong in Korea Zinc increased to 46.7%. MBK Partners acquired an additional 1.13% equity through on-market purchases.
MBK Partners' special purpose company (SPC) Korea Corporate Investment Holdings announced on the 19th that it purchased 234,451 shares (1.13%) of Korea Zinc between Oct. 12 and this month 18 through discretionary trading (CD).
Previously, Korea Corporate Investment Holdings secured a 5.32% equity stake in Korea Zinc through a tender offer on Oct. 14, and bought an additional 1.36% on-market from Oct. 18 to Nov. 11. Including the equity acquired this time, MBK Partners now holds 7.82% based on the number of issued shares and 8.9% based on voting rights.
The equity held by MBK Partners and Youngpoong is 40.97% based on the number of issued shares and 46.7% based on voting rights.
Chairman Choi Yun-beom, who is competing with MBK Partners and Youngpoong for Korea Zinc, is estimated to hold around 40% voting rights. The two sides are expected to confront each other over the board of directors' appointment and amendments to the articles of incorporation at the extraordinary shareholders' meeting on Jan. 23 next year.