[Featured Stock] KG ETS Rises 14% Amid Outline of Ssangyong Motor Acquisition Battle

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] As the acquisition battle for Ssangyong Motor, involving KG Group, narrows down to a three-way race, KG-related stocks are soaring.

As of 10:42 AM on the 12th, KG ETS is trading at 17,700 KRW, up 14.94% from the previous trading day. At the same time, KG Chemical is up 4.03% at 40,050 KRW, and KG Mobilians is up 1.09% at 8,360 KRW.

According to industry sources, the Ssangyong Motor administrator and the sales lead manager EY Hanyoung are expected to select the prospective acquirer among KG Group-Pavilion Private Equity (PE), Ssangbangwool Group, and EL B&T as early as the 12th.

Financial capability to revive Ssangyong Motor is considered the key factor in selecting the prospective acquirer, and KG Group, which has partnered with Pavilion PE, is seen as the frontrunner.

Investment sentiment appears to be focused on KG Chemical, which serves as the group's holding company, and KG ETS, which submitted a conditional acquisition proposal as the representative.