[Asia Economy Reporter Hwang Yoon-joo] Yeongpoong Paper, which has been put up for sale, is surging on news of a successful M&A (mergers and acquisitions) deal.
As of 10 a.m. on the 11th, Yeongpoong Paper is trading at 14,700 won, up 17.13% (2,150 won) compared to the previous trading day.
According to reports from the previous day, IPM Korea, a UK-based infrastructure investment firm, has expressed its intention to participate in the Yeongpoong Paper acquisition bid. It is also known that a consortium formation with strategic investors (SI) involved in the paper business is under consideration.
Q Capital Partners, the major shareholder of Yeongpoong Paper, began the sale process in earnest after conducting a preliminary bidding in March. The real estate assets of Yeongpoong Paper are also attracting interest from potential buyers. The company owns a site of approximately 13,000 pyeong near its Pyeongtaek factory, which its subsidiary Habuk Industrial Development is developing. Additionally, a 6,000-pyeong site located in Songhwa-ri, Paengseong-eup, Pyeongtaek City, is also gaining attention as a prime real estate asset.
The seller of Yeongpoong Paper plans to conduct the main bidding at the end of this month and select a preferred negotiation partner.
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