Displaying items by tag: LK Investment Partners
Four bidders shortlisted for purchase of Halla Cement
19 September 2017South Korea: Four companies have been shortlisted to buy a full stake in Halla Cement. Asia Cement, Sungshin Cement, Aju Corporation and LK Investment Partners are all contenders for the sale, according to sources quoted by the Maeil Business Newspaper. Six investors submitted preliminary bids for the cement producer and Halla Cement’s largest shareholder Baring Private Equity Asia and its sales advisor Citigroup Global Market Securities Korea chose the final selection.
The shortlisted companies will have up to six weeks to conduct due diligence procedures before submitting final bids in early November 2017. The seller intends to pick a final bidder by mid-November 2017.
Baring Private Equity Asia and Glenwood Private Equity bought Lafarge Halla Cement from LafargeHolcim in mid-2016 for Euro427m.
Hyundai Cement plans solar plant at Danyang plant
25 August 2017South Korea: Hanil Cement and LK Investment Partners are considering plans to build a solar plant at Hyundai Cement’s plant at Danyang. The owners of the cement plant want to build the solar plant at the site when its limestone reserves start to decline, according to the Maeil Business Newspaper. The new power plant is intended to increase its profitability.
Hanil Cement and LK Investment Partners chosen as preferred bidders for Hyundai Cement
17 February 2017South Korea: Hanil Cement and LK Investment Partners have been chosen as the preferred bidders for the acquisition of Hyundai Cement. They won out against rival bidders as their offer was higher than expected at US$567m, according to the Maeil Business Newspaper. They were bidding to buy a 85% stake in Hyundai Cement. If the purchase completes then Hanil Cement could increase it market share to 30% from 20% at present.