Latest news with #MBKPartners
5 days ago
- Business
MBK Partners to Launch Tender Offer for Makino Milling Machine
News from Japan Jun 4, 2025 10:03 (JST) Tokyo, June 4 (Jiji Press)--MBK Partners, an Asian investment fund, said Tuesday that it will launch a tender offer for Makino Milling Machine Co. at 11,751 yen per share by early December to take full control of the Japanese machine tool maker. Makino agreed with the bid from MBK Partners and recommended that all shareholders tender their shares in the offer. In December 2024, Japanese motor manufacturer Nidec Corp. made an unsolicited bid for Makino at 11,000 yen per share. Nidec withdrew its tender offer in early May after Makino announced a takeover defense measure. MBK Partners late last month made a binding takeover proposal to Makino, which had been looking for a white knight suitor. END [Copyright The Jiji Press, Ltd.] Jiji Press
Nikkei Asia
27-05-2025
- Business
- Nikkei Asia
Asian private equity firm MBK wins first-negotiation rights for Makino
TOKYO -- Asian private equity firm MBK Partners has been granted the right of first refusal in negotiations to purchase Japan's Makino Milling Machine, Nikkei has learned. Multiple funds have shown interest in the Tokyo-listed machine tool manufacturer. Earlier this month, Japan's Nidec withdrew an unsolicited takeover bid after Makino threatened to mount a "poison pill" takeover defense.
Bloomberg
23-05-2025
- Business
- Bloomberg
Private Equity Tycoon Becomes Mired in Probe Over Korea Buyout
Michael ByungJu Kim, one of Asia's most prominent private equity tycoons, built his MBK Partners Ltd. into a regional powerhouse with marquee deals and tens of billions in assets under management. Now, a controversial bet on Homeplus, once the nation's second-largest supermarket chain, has returned to haunt him.
Bloomberg
19-05-2025
- Business
- Bloomberg
Billionaire Kim Barred From Leaving Korea Amid Bond Probe
Billionaire Michael ByungJu Kim has been barred from leaving South Korea as part of a probe by local prosecutors into a bond sale by one of the private equity investor's portfolio companies. The restriction was confirmed by a spokesperson for Kim's firm, MBK Partners Ltd., after Yonhap News reported that prosecutors had on May 17 executed a search and seizure warrant on Kim and obtained his mobile phone. Yonhap cited unidentified sources in the legal industry.
Korea Herald
19-05-2025
- Business
- Korea Herald
MBK chief barred from leaving Korea in Homeplus fraud case
South Korean prosecutors have imposed a foreign travel ban on Michael Byung-ju Kim, chairman of Seoul-based private equity giant MBK Partners, as part of an investigation into fraud allegations related to the short-term debt issuance by supermarket chain Homeplus. The Seoul Central District Prosecutors' Office reportedly requested the Justice Ministry to place an exit ban on Kim. Prosecutors sought the travel restriction out of concern that Kim might not cooperate with the ongoing probe if allowed to leave the country. He also failed to appear at a National Assembly audit concerning the matter. On Saturday, prosecutors conducted a raid on Kim at Incheon Airport upon his return from London. During the operation, they retrieved a mobile phone used by Kim. MBK and its portfolio company Homeplus are accused of issuing asset-backed short-term bonds while allegedly anticipating a credit rating downgrade that was publicly disclosed on Feb. 28. Homeplus filed for court-led rehabilitation on March 4. The prosecution has been intensifying its investigation into MBK's top management. In late April, it raided the headquarters of both Homeplus and MBK Partners, as well as the residences of Kim; Kim Kwang-il, a partner at MBK and co-CEO of Homeplus; and Joh Joo-yun, also a co-CEO of Homeplus. Kim founded MBK in 2005. The firm, recognized as the largest buyout firm in Northeast Asia, manages over $30 billion in assets. Kim is among South Korea's wealthiest individuals, with a net worth of $9.7 billion as of 2024. In 2015, MBK acquired Homeplus for approximately $5 billion, marking the largest private equity-led deal in Asia at the time.
