Finance / South Korea
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MBK Partners And Macquarie Buy Korean TV Operator
April 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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South Korea's second largest cable TV operator C&M has been acquired by an investment fund managed by Australia's Macquarie Group and private equity house MBK Partners. The consortium led by Macquarie Korea Opportunities Fund and MBK Partners announced they had bought a 92.5% share in C&M at a cost of KRW2trn (US$2bn). An initial 27.5% share in C&M had been acquired by the consortium, Kookmin Cable Investment from US investment bank Goldman Sachs at a cost of KRW563bn. A further 65% share was secured later on from C&M chairman Lee Min-joo and other major shareholders. Also involved in the acquisition were South Korea's top fund manager Mirae Asset Management and Taihan Electric Wire.