MBK Partners and Young Poong Refute Korea Zinc's Baseless Claims
5.12.2024 06:19:00 CET | Business Wire | Press release
MBK Partners has clarified its position on a matter involving Korea Zinc, stating that the company is making claims that are far from reality. The matter dates back to May 2022, when a person known to be close to Chairman Choi Yoon-beom of Korea Zinc approached MBK Partners' Special Situations team, one of its investment management divisions, seeking investment.
MBK Partners addresses the matter to correct the record and set the facts straight.
- MBK Partners operates its investment management business through two primary divisions:
1. Buyout Division – Focused on acquiring controlling stakes in companies.
2. Special Situations Division – Specializing in minority stake investments, private debt, and other financial opportunities.
- The Buyout and Special Situations divisions are fundamentally separate entities within MBK Partners. These divisions are governed by a strict “Chinese Wall” policy, ensuring that there is no exchange of information between the two. This separation is rigorously enforced through compliance measures to maintain transparency and regulatory adherence. Each division operates with distinct investment targets and strategies.
- The Buyout Division of MBK Partners, which collaborated with Korea Zinc’s largest shareholder, Young Poong as a white knight, on the recent public tender offer, has no connection to the investment proposal made by a person known to be close to Chairman Choi in May 2022. Prior to the publication of Korea Zinc's allegations, the Buyout Division was unaware of this proposal or any materials received by the Special Situations team.
- Following the publication of these allegations, under MBK Partners compliance team’s review and approval, the Special Situations Division confirmed that the materials received from Korea Zinc were explanatory document about the Troika Drive, developed by the consulting firm BCG for Korea Zinc. These materials were largely identical to those publicly available on Korea Zinc’s website and in its IR materials. The investment discussion was closed without further action in June 2022.
- Korea Zinc’s claim that the Buyout Division may have used the Troika Drive documents in its public tender offer demonstrates a fundamental misunderstanding of MBK Partners' structure and practices. This claim is speculative and baseless, stemming from a lack of awareness about the firm’s operations and internal controls.
# # #
View source version on businesswire.com: https://www.businesswire.com/news/home/20241204852382/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
U.S. Food and Drug Administration Accepts New Drug Application and Grants Priority Review for Takeda’s Oveporexton (TAK-861) as a Potential First-in-Class Therapy for Narcolepsy Type 110.2.2026 09:15:00 CET | Press release
This FDA Acceptance is a Milestone for People Living with Narcolepsy Type 1 Who Need New and Different Treatment OptionsOveporexton is an Orexin Agonist Designed to Restore Orexin Signaling and Address the Underlying Orexin Deficiency that Causes Narcolepsy Type 1The Prescription Drug User Fee Act (PDUFA) Target Action Date is the Third Quarter of this Calendar Year Takeda (TSE:4502/NYSE:TAK) today announced that the U.S. Food and Drug Administration (FDA) accepted its New Drug Application (NDA) and granted Priority Review for oveporexton (TAK-861) for the treatment of narcolepsy type 1 (NT1). Oveporexton is an investigational oral orexin receptor 2 (OX2R)-selective agonist designed to address the underlying orexin deficiency that causes NT1 by restoring orexin signaling. The FDA has set a Prescription Drug User Fee Act (PDUFA) goal date in the third quarter of this calendar year. Takeda remains on track to potentially bring the first approved orexin agonist treatment to people living
Swiss Leader Leonteq Chooses ActiveViam to Deliver High‑Performance FRTB Risk Analytics10.2.2026 09:00:00 CET | Press release
ActiveViam, a global leader in real‑time, multidimensional risk analytics for capital markets, today announced that Leonteq, one of the leading Swiss providers of structured products, has implemented Atoti to calculate Market Risk Capital Charges under the Standardized Approach of the Fundamental Review of the Trading Book (SA-FRTB). ActiveViam’s flagship product, Atoti, is being used by Leonteq as its FRTB reporting solution to the Swiss Financial Market Supervisory Authority (FINMA). Switzerland implemented FRTB for its banks on 1st January 2025 and FINMA recently extended its scope to include Leonteq. When the FRTB implementation deadlines became clear, Leonteq evaluated several vendors for a solution that could integrate with its existing pricing engines. After a detailed assessment, it selected Atoti. The solution provides dashboards and preconfigured reports that meet FINMA’s requirements, along with analytics aligned to the ISDA Unit Tests and additional capabilities such as wha
Bending Spoons offers €1.5 million in tech scholarships through new Fellowship program10.2.2026 09:00:00 CET | Press release
Today Bending Spoons announced the launch of the Bending Spoons Fellowship, committing up to €1.5 million to support Europe’s most outstanding computer science students through the program. The fellowship will award ten scholarships—each worth €50,000 per year and renewable for up to three years—to high-achieving university students in computer science and related fields across Europe and the UK. “We think exceptional talent deserves exceptional opportunities,” said Costanza Mazzei, the Bending Spoons talent manager leading the program. “With the Bending Spoons Fellowship, we aim to give Europe’s most driven students the freedom, resources, and guidance to reach the highest levels of excellence.” In addition to financial support, Fellowship participants will benefit from individual mentorship and may choose to participate in an optional paid summer internship at Bending Spoons. The fellowship is the latest initiative from Bending Spoons to support emerging technical talent. It builds o
Ralph Haupter Joins Warburg Pincus as an External Senior Advisor10.2.2026 09:00:00 CET | Press release
Seasoned Technology Executive to Support European Technology Group Warburg Pincus, the pioneer of private equity global growth investing, today announced that Ralph Haupter will serve as an External Senior Advisor to its European Technology team. Mr. Haupter, Executive Vice President and Chief Revenue Officer for Small Medium Enterprises and Channel (SME&C) at Microsoft, will take on this personal engagement to help the firm identify and evaluate new investment opportunities across the software and technology sectors. He will also play an active role in value creation across the firm’s existing portfolio. Mr. Haupter brings over 25 years of global operating experience and deep expertise in technology innovation and transformation. At Microsoft, he leads a global organization that works with the company’s extensive partner ecosystem to empower small and medium businesses worldwide. Previously, he held senior leadership roles across Europe, Asia, and the Americas, including President of
CapVest Enters Exclusive Discussions With HLD on the Proposed Acquisition of TSG10.2.2026 09:00:00 CET | Press release
HLD and management to retain significant minority stakes in TSG, partnering with CapVest on a shared vision to lead the company into its next phase of global growth CapVest Partners LLP (“CapVest”), a leading New York and London based investment firm, and HLD, the entrepreneurial European investment group, have entered exclusive discussions on CapVest’s proposed acquisition of a majority stake in TSG, a European leader in technical services for critical energy infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210375858/en/ Headquartered in Paris, France, TSG is a European leader in technical services for the energy industry with a pan-European footprint in over 30 countries and employing over 7,000 people. Originally focused on fuel station and private fleet energy infrastructure and systems, since HLD’s acquisition of the company in 2020 TSG has undergone significant transformation as a primary enabler of th
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom