Tiny stake excluded from Namyang Dairy Products deal One of the owner's family members will remain minority shareholder with 0.45% stake
Translated by Kim So-in 공개 2021-06-02 07:42:05
이 기사는 2021년 06월 02일 07:29 thebell 에 표출된 기사입니다.
Some of Namyang Dairy Products' stake held by the owner's family members was not included in Hahn & Co’s latest acquisition of the company, drawing attention to the reason for the exclusion.Namyang recently announced that it will sell around 53% of the dairy product maker including 51.68% owned by the company’s ex-chairman Hong Won-sik, 0.89% owned by Hong’s wife and 0.06% owned by his grandson to the Seoul-based private equity firm for approximately 310.7 billion won ($278 million).
It is notable that Hong’s younger brother Myeong-sik will remain a minority shareholder with a 0.45% stake. Myeong-sik is the only one who hasn’t participated in the deal among the three people who are related to former chairman Hong.
This led to speculation that the Hong family might want to repurchase the company from the private equity firm sometime in the future.
However, most industry sources are skeptical about that possibility because the deal did not provide the seller with options such as a call option and a right of first refusal. “The Namyang deal has to be seen as a cash-out by the owner, giving up his management rights amid deteriorating fundamentals due to worsening public opinion and a crippling consumer boycott,” an industry source said.
It is said that the stake owned by Myeong-sik has not been included in the deal from the beginning. Hahn & Co has excluded his stake from the acquisition, probably because it was too small to affect its control of the company.
“Myeong-sik hasn’t participated in the management of Namyang at all, it appears he would hold the company's stake for the longest time among his brothers,” said a second industry source. (Reporting by Byung-yoon Kim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 우리금융 "롯데손보 M&A, 과도한 가격 부담 안한다"
- 신한캐피탈, 지속성장 포트폴리오 리밸런싱 체계 강화
- 하나금융, ELS 악재에도 실적 선방…확고한 수익 기반
- 하나금융, 자본비율 하락에도 주주환원 강화 의지
- 국민연금, '역대 최대 1.5조' 출자사업 닻 올렸다
- [도전 직면한 하이브 멀티레이블]하이브, 강한 자율성 보장 '양날의 검' 됐나
- [퍼포먼스&스톡]꺾여버린 기세에…포스코홀딩스, '자사주 소각' 카드 재소환
- [퍼포먼스&스톡]LG엔솔 예견된 실적·주가 하락, 비용 절감 '집중'
- [퍼포먼스&스톡]포스코인터, 컨센서스 웃돌았지만 주가는 '주춤'
- 신한금융, ‘리딩금융’ 재탈환에 주주환원 강화 자신감