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Korea’s National Pension Service to invest in MBK takeover of Doosan Infracore’s machine tool...

Collected: 2016.03.17

Distributed: 2016.03.18

Source: Go Direct

South Korea’s state-run National Pension Service (NPS) plans to invest around 50 billion won ($41 million) in Doosan Infracore Co.`s machine tool business to help fund local private equity firm MBK Partners to acquire it. The investment would make the pension fund a strategic investment partner for MBK Partners chosen as the preferred buyer for Doosan Infracore’s machine tool business unit for 1.1 trillion won.

NPS will finalize the investment plan in a committee meeting.

Excluding 675 billion won loans from Hana Financial Investment Co., Hyundai Securities Co., and Woori Bank, NPS will shoulder a part of the remaining 455 billion won MBK must finance on its own through a fund.

NPS has been exploring alternative investment options amid low-interest rate environment. It has been involved in most major merger and acquisition deals. Last year, NPS injected more than 500 billion won in MBK’s acquisition of Homeplus, Korea’s largest-ever buyout deal through redeemable convertible preference shares. Earlier, it also invested around 350 billion won and 180 billion won respectively in deals involving Hanon System and ADT Caps.

By Kang Doo-soon and Kim Hyo-hye

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