Hyundai Green Food pulls out of $147 mln WiniaMando purchase
SEOUL, Sept 5
SEOUL, Sept 5 (Reuters) - South Korea's Hyundai Green Food Co Ltd said on Friday it has pulled out of negotiations to acquire kimchi refrigerator maker WiniaMando Inc.
Hyundai Green Food said in a regulatory filing it had made the decision to pull out of the talks after failing to reach a final agreement.
Hyundai said in August that it agreed to acquire WiniaMando for around 150 billion won ($147.25 million) from global private equity firm CVC Capital Partners. Hyundai's regulatory filing did not elaborate on why the deal was not completed. (1 US dollar = 1,018.7000 Korean won) (Reporting by Se Young Lee; Editing by Paul Tait)