MBK "Koryo Zinc buying will increase, irreversible impact"

Youngpoong and MBK Partners have criticized Korea Zinc's decision to raise the tender price of its own shares and Youngpoong Precision, which will have a significant irreversible negative impact on the company by taking on 2.7 trillion won in debt.

MBK said in a statement today (11th) that the increased tender offer of KRW 3.2 trillion is 97.1% of Korea Zinc's consolidated net profit for the last five years and 33% of its equity capital.

He went on to say that the company's valuable resources would be consumed, leaving the company's future uncertain, and that he would seek every possible way, including relief through litigation, to prevent irreversible damage.

In particular, MBK emphasized that the tender offer of MBK and Youngpoong will be completed even if only one week of subscription is received by the 14th, and regardless of the number of subscriptions, MBK will become Korea Zinc's largest shareholder along with Youngpoong.