Private equity firm Macquarie Asset Management has sold approximately 7% of its stake in LG CNS Co., the IT services division of South Korea’s LG Group. The sale was conducted via a block transaction valued at $310 million, at a 9% discount.
Macquarie has initiated the sale of Approtium, South Korea's largest commercial hydrogen producer, with the transaction expected to surpass 1 trillion won ($770 million), according to industry sources.
Macquarie is set to sell a four-star hotel in Seoul for approximately 170 billion won ($118.7 million) to KB Asset Management, according to investment banking insiders.
The firm has started a process to divest its entire 100% stake in DIG Airgas Co., South Korea’s third-largest industrial gas producer, marking what could be the country’s largest buyout deal.
Macquarie Korea Infrastructure Fund (MKIF) recently agreed to acquire a 40-megawatt data center from Seoul-based IGIS Asset Management for 734 billion won ($538 million).
"Macquarie Asset Management is poised to sell a four-star hotel in Seoul for about 170 billion won ($118.7 million) to South Korea’s KB Asset Management," stated investment banking sources.
Summary: Macquarie Asset Management is actively divesting significant South Korean assets, including a 7% stake in LG CNS and several key infrastructure and industrial holdings, in multi-billion dollar deals.