South Korea: preferred bidders named in US$567m Hyundai deal

South Korea: preferred bidders named in US$567m Hyundai deal
17 February 2017


Hanil Cement Company and LK Investment Partners have been named as the preferred bidders to acquire Hyundai Cement, reports South Korea's Pulse.

The two firms submitted a bid of KRW650bn (US$567m) for an 84.56 per cent stake in Hyundai. The acquisition would make Hanil Cement the largest producer in South Korea, with a market share of more than 30 per cent.

The bid values Hyundai at nearly 60 per more than its current market capitalisation of KRW486bn. A final deal is expected to be signed in May.

Published under Cement News