HONG KONG, April 18 (Reuters) – Private equity funds
Affinity Equity Partners, MBK Partners and a listed retail unit
of Lotte Group are among prospective bidders for an around $744
million stake in Korean water purifier company Woongjin Coway
, sources with direct knowledge of the matter told
Reuters.
Conglomerate Woongjin Holdings has put a 30.9
percent stake in Woongjin Coway on the block and hired Goldman
Sachs to manage the sale. The stake is worth around $744
million based on Tuesday’s closing share price, but Woongjin
Holdings is targeting as much as $1.7 billion, according to
South Korean media reports also confirmed by one of the sources.
Goldman Sachs recently sent out a memorandum to potential
bidders, including Korean and international strategic bidders
and private equity funds, the source added.
Affinity, Goldman and MBK declined comment. Lotte Shopping
last week told the Korean stock exchange its parent
Lotte Group was looking to appoint advisers on its bid.
The sources declined to be identified as the information was
private.
