PE Firm MBK Buys $965M Slice Of Woongjin Water Filter Co.

Law360, New York (August 16, 2012, 6:38 PM EDT) -- Asian private equity powerhouse MBK Partners will plunk down 1.1 trillion Korean won ($965 million) for a nearly 30 percent stake in conglomerate Woongjin Holdings Co. Ltd.'s water purification business, the seller announced Thursday.

The sale of 21.8 million shares of Coway Co. Ltd. to MBK appears to blow apart a tentative deal Woongjin struck late last month with an affiliate of rival private equity firm KTB Investment & Securities Co. Ltd., though the South Korean conglomerate did not mention KTB in its brief disclosure to...
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