MBK Partners Agrees to Sell Techpack Solutions to Dongwon Systems (Asia)

Source: Dongwon Systems, Reuters  |  Author(s): Joyce Lee

North Asia-focused private equity firm MBK Partners has agreed to sell a 100 percent stake in South Korea-listed beverage packaging product manufacturer Techpack Solutions to South Korea-based aluminum and food can manufacturer Dongwon Systems for KRW250 billion (approximately US$243 million). Including debt, the deal is valued at about KRW450 billion (approximately US$437 million). MBK originally acquired the company in December 2008 through its fund MBK Partners II. The transaction is expected to close in October 2014.