MBK Partners, a private equity fund that is in a dispute over the management rights of Korea Zinc, claimed, "Korea Zinc's debt ratio could rise to 245% by 2030 due to the burden of tender shares."
Even if Korea Zinc generates 1.2 trillion won in cash per year over the next six years, it will have a debt ratio of 244.7% in 2030, due to debt repayment, interest, dividends and facility investment from its treasury stock tender, MBK said in a press release today.
At the same time, he criticized that it is an unrealistic claim that Korea Zinc said that its debt ratio will be reduced to 20% again by 2030 through its annual average cash generation power of 1.2 trillion won.
MBK, along with Youngpoong, is making a tender offer for Korea Zinc shares at 830,000 won per share until the 14th, and Chairman Choi Yoon-beom, the current management entity, is publicly buying treasury stocks at 890,000 won per share.
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