MBK Partners stated on the 23rd, "Regarding the successful sale of Doosan Machine Tools under 'DN Automotive,' a subsidiary of the leading export and excellent company in the Gyeongnam region in 2021, 'DN Group,' we are facing defamatory information spread by Chairman Choi Yoon-beom of Korea Zinc," and added, "In 2016, during the Doosan Group restructuring, we acquired the machine tools division of Doosan Infracore and enhanced corporate value through active R&D investment, production facility investment, and new product development."
MBK added, "By newly establishing a dealer network in the North American region and strengthening overseas sales channels, as well as successfully pioneering the European and Asian markets, Doosan Machine Tools, which was ranked 6th globally, rose to 3rd place in the industry."
They continued, "Along with improved performance, as the global competitiveness of Doosan Machine Tools greatly increased, from 2019 when we considered the sale, inquiries from related companies worldwide continued to come to the then sale advisor 'BoA Merrill Lynch,' and Chinese machinery companies also expressed interest to the sale advisor."
MBK stated, "Through prior consultation with the Ministry of Trade, Industry and Energy, the competent authority, we did not conduct specific sale negotiations with Chinese companies, and ultimately successfully sold to DN Automotive, a leading company located in Gyeongsangnam-do," adding, "At that time, the sale negotiations for Doosan Machine Tools were conducted with not only DN Automotive but also two other domestic companies."
Furthermore, "MBK, which has legally conducted numerous investment activities as a domestic corporation for 20 years, has actively responded to national policies and projects such as registration of core national technologies, export-import permits for strategic materials, national R&D projects, and support for win-win cooperation with medium-sized enterprises, and is actively engaging in prior consultations with the government," they mentioned.
MBK said, "As the first generation of native private equity funds fostered by the Republic of Korea government, we want Korea Zinc to faithfully perform its pivotal role in the Korean economy as a national key industry," and added, "We have already stated several times that there will be no sale to China. MBK Partners will invest in Korea Zinc for a long term, in a manner acceptable to the members of the Republic of Korea and in a way that contributes to the Korean economy."
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