Reuters: Private Equity: MBK, Affinity eye bids for Korea Woongjing Coway stake -sources

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

MBK, Affinity eye bids for Korea Woongjing Coway stake -sources Apr 18th 2012, 03:14 HONG KONG, April 18 | Tue Apr 17, 2012 11:14pm EDT HONG KONG, April 18 (Reuters) - Private equity funds Affinity Equity Partners, MBK Partners and a listed retail unit of Lotte Group are among prospective bidders for an around $744 million stake in Korean water purifier company Woongjin Coway , sources with direct knowledge of the matter told Reuters. Conglomerate Woongjin Holdings has put a 30.9 percent stake in Woongjin Coway on the block and hired Goldman Sachs to manage the sale. The stake is worth around $744 million based on Tuesday's closing share price, but Woongjin Holdings is targeting as much as $1.7 billion, according to South Korean media reports also confirmed by one of the sources. Goldman Sachs recently sent out a memorandum to potential bidders, including Korean and international strategic bidders and private equity funds, the source added. Affinity, Goldman and MBK declined comment. Lotte Shopping last week told the Korean stock exchange its parent Lotte Group was looking to appoint advisers on its bid. The sources declined to be identified as the information was private.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions