2024-11-18
SEOUL, Nov. 18 (Yonhap) — The government has designated Korea Zinc Co.’s high-nickel precursor manufacturing process as a national core technology amid a tussle for control of the world’s biggest refined zinc producer, the company said Monday.
Korea Zinc has been in a monthslong battle to fend off a takeover bid by its largest shareholder Young Poong Corp. and private equity fund MBK Partners Ltd. The Young Poong side initiated the takeover battle on Sept. 13 by launching a tender offer for an additional stake in Korea Zinc.
This photo taken on Nov. 13, 2024 shows Korea Zinc Chairman Choi Yun-beom (C) leaving from a press conference held at the Korea Chamber of Commerce and Industry (KCCI) building after announcing its plan to withdraw a 2.5 trillion won share sale plan aimed at fend off a takeover bid by Korea Zinc’s largest shareholder Young Poong Corp. and private equity firm MBK Partners Ltd. (Yonhap)
Full article: Korea Zinc’s high-nickel precursor designated nat’l core technology amid management battle
