Halla Group considers $40 mil equity investment in chip parts firm Total acquisition cost for Willbe S&T expected to be about $150 mil

Translated by Ryu Ho-joung 공개 2022-05-24 08:05:13

이 기사는 2022년 05월 24일 08:02 더벨 유료페이지에 표출된 기사입니다.

Halla Group is considering investing 50 billion won ($39.5 million) in a private equity fund that will acquire South Korea-based semiconductor component maker Willbe S&T.

A consortium of Kiwoom Capital and Lotus Private Equity was picked as the preferred buyer for Willbe S&T at the end of April and is currently conducting due diligence. Another private equity firm Dominus Investment also joined the consortium as a co-general partner.

The total acquisition cost for the chip parts firm is expected to be about 190 billion won. The consortium is said to be funding 100 billion won in equity and the remaining 90 billion won through debt financing.

If Halla Group puts 50 billion won into the consortium’s fund, this would make the conglomerate the largest investor in Willbe S&T. Key affiliates under Halla Holdings, the group’s holding company, include auto parts maker Mando Corp and construction company Halla Corp. It is said which of them will invest in Willbe S&T has not determined yet.

Halla Group’s interest in Willbe S&T is part of efforts by the conglomerate to find future growth drivers.

Willbe S&T produces retainer rings used in semiconductor manufacturing devices as well as display parts. It recorded revenue of 64.6 billion won in 2021 on a non-consolidated basis, up 27.5% year-on-year. Operating profit and net profit were 14.4 billion won and 14.7 billion won, respectively, up 51.2% and 61.5% from a year ago. Earnings before interest, tax, depreciation and amortization increased 49% year-on-year to 15 billion won. (Reporting by Gyoung-tae Kim)
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