Macquarie fund to buy stakes in South Korea's Gabia, KINX
Macquarie Asset Management’s Asia-Pacific Infrastructure Fund 4 agreed to buy major shareholders’ stakes in Gabia and KINX for 53,000 won and 190,000 won per share, respectively; the total value was not disclosed. After regulatory approvals and other conditions, the buyer plans tender offers for remaining shares at the same prices.
1. Agreed purchase prices
Macquarie Asset Management’s Asia-Pacific Infrastructure Fund 4 agreed to acquire the entire shareholdings held by Gabia management, Align Partners, Miri Capital and Gumshoe Capital in Gabia and KINX. The agreed prices are 53,000 won per Gabia share and 190,000 won per KINX share; the total deal value was not disclosed.
2. Tender offers planned
After receiving required regulatory approvals and meeting certain conditions, the acquiring special purpose company plans to offer to buy the remaining shares of both companies at the same prices. Gabia management has also agreed to reinvest part of its shares in the special purpose company through an in-kind contribution. Macquarie said the deal aims to simplify ownership and governance and support the companies’ next phase of growth.
