THE INVESTOR

메뉴열기
December 06, 2019

SK Networks, Haier, Carlyle join bid to acquire Coway

PUBLISHED : July 31, 2019 - 18:21

UPDATED : July 31, 2019 - 18:21

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

Seoul-based trading company SK Networks, Qingdao-based consumer electronics maker Haier and US private equity The Carlyle Group have joined the preliminary bidding to acquire 25.08 percent stake in water purifier rental company Coway, according to industry sources on July 31.

They are among seven contenders that have submitted letters of interest for acquisition roughly valued at 2 trillion won ($1.7 billion). The contenders will be shortlisted by as early as this week and a preferred bidder is expected to be announced in September, following a monthlong due diligence. 

Courtesy of Coway

Related:
Woongjin decides to offer staple financing to Coway buyer
Woongjin forced to resell Coway after just three months
Woongjin drowns in debt over Coway acquisition


Coway’s major shareholder Woongjin Group expressed its intention to resell its stake in June in a move to reduce leverage, just three months after the 1.7 trillion won acquisition by a consortium led by an educational unit Woongjin Thinkbig.

The company currently takes the lead in the water purifier rental market, with some 40 percent market share coupled with door-to-door distribution channels. Coway is followed by SK Networks’ wholly owned unit SK Magic.

Its operating profit in the second quarter came to 138.2 billion won, up 6.9 percent on-year, and its revenue reached 755.5 billion won, up 11.4 percent.

By Son Ji-hyoung (consnow@heraldcorp.com)

  • 페이스북
  • 트위터
  • sms
최상단으로
Herald Corporation|CEO : Kwon Chung Won
Publisher. Editor : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.