“MBK China Capital Theory and Overseas Sale Rumors Black Propaganda… Pledge to Maintain Employment”,
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[영풍 홈페이지 캡처. 재판매 및 DB 금지]](https://imgnews.pstatic.net/image/001/2024/09/23/AKR20240923061900003_01_i_P4_20240923105911719.jpg?type=w647)
영풍
[영풍 홈페이지 캡처. 재판매 및 DB 금지],
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, ‘(Seoul=Yonhap News) Reporter Kim Dong-kyu = Youngpoong Corporation on the 23rd stated, “The ongoing public takeover of Koreazinc shares is to prevent the instability caused by Chairman Choi Yoon-bum and to normalize management,” revealing that they have handed over a majority stake to MBK Partners with the intention of cutting off their own arm and feeding it to them.’,
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, ‘Youngpoong issued a press release on the same day, stating that the acquisition of Koreazinc shares in cooperation with MBK Partners is not a hostile takeover or a predatory M&A, as some have claimed.’,
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, ‘Prior to this, Youngpoong announced that they will hand over half of their Koreazinc shares held by MBK Partners and acquire approximately 7-14.6% of Koreazinc shares publicly. In this case, after acquiring control of Koreazinc, the majority ownership will return to MBK Partners.’,
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, ‘Youngpoong criticized Chairman Choi, stating, “With a mere 2.2% stake, he has damaged the ‘spirit of cooperation’ maintained for 75 years, engaged in unilateral management practices,” and raised suspicions regarding embezzlement related to the investment in Won Asia Partners managed by the SAMO fund, as well as suspicions of violating the duties of loyalty related to investments in Igneo Holdings.’,
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, ‘Youngpoong claimed, “Since Chairman Choi took office, Koreazinc diluted the stake value by approximately 16% through third-party allocation capital increases and share exchanges with companies such as Hanwha and Hyundai,” stating that this infringed on the proportional benefits of existing shareholders.’,
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, ‘Youngpoong criticized Koreazinc for abruptly cutting off long-standing joint businesses such as strategic joint raw material procurement, sales, and handling contracts with Hwangsung Trading, excluding Youngpoong from the management of Seorin Trading, a symbol of joint business, stating that it is nothing short of self-harm.’,
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, ‘Youngpoong stated about MBK, “They have the capacity to carry out a large-scale public takeover and develop Koreazinc,” and countered claims that “MBK is Chinese capital and will be sold to China if acquired” as black propaganda.’,
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, ‘Youngpoong further criticized Chairman Choi for engaging in contradictory actions, stating, “While expressing concerns that Koreazinc may be sold overseas with MBK as they deal with Chinese capital, Chairman Choi himself is reaching out to SoftBank in Japan and Sumitomo Corporation.”‘,
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, ‘Regarding this stock public takeover, Youngpoong emphasized, “This is to hold Chairman Choi accountable and by no means to shake up Koreazinc,” asserting, “The employment relationships of all Koreazinc employees except Chairman Choi will be firmly maintained, and the future strategic businesses pursued by Koreazinc will continue unchanged.”‘,
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, ‘[email protected]’,
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