SEOUL Aug 11 South Korea's Dongwon Systems Corp
is considering buying compatriot bottle maker
Techpack Solutions Co Ltd in its entirety from Asia-Pacific
private equity fund MBK Partners, the food can maker said in a
regulatory filing on Monday.
Dongwon Systems could pay around 500 billion won ($485.34
million) for Techpack, which also makes drinks cans, local
mergers-and-acquisitions publication Market Insight reported
earlier in the day, citing an unnamed person or persons in the
investment banking industry.
MBK hired Bank of America Merrill Lynch last year to sell
its 100 percent stake for up to 600 billion won, a person with
knowledge of the matter previously told Reuters.
Dongwon Systems declined to elaborate on the amount when
contacted by Reuters on Monday. MBK and Techpack declined to
Dongwon Systems is part of Dongwon Group and makes cans for
tuna caught by the group's deep-sea fishing flagship company
Dongwon Industries. Its products also include
cooking foil as well as aluminium coating for components in
goods ranging for air conditioners to cars.
(1 US dollar = 1,030.2000 Korean won)
(Reporting by Joyce Lee; Editing by Christopher Cushing)