January 16, 2013 / 12:10 PM / 5 years ago

MBK Partners to buy $521 mln stake in S.Korean clothing firm

SEOUL, Jan 16 (Reuters) - Private equity fund MBK Partners is set to acquire a majority stake in South Korean outdoor clothing firm NEPA Company Ltd for about 550 billion won ($520 million), a South Korean newspaper said on Wednesday.

The Korea Economic Daily said MBK Partners is expected to sign an agreement to acquire a 53 percent stake for a price equivalent to 7.5 times NEPA's earnings before interest, tax, depreciation and amortisation (EBITDA).

The report added MBK plans to acquire a further 30 percent in the future, which could bring the total value of the deal up to about 900 billion won ($852 million).

No one at MBK or NEPA could immediately be reached for comment.

The news comes after MBK bought a stake in coffee shop chain operator Komeda Co from Japanese private equity firm Advantage Partners for an undisclosed amount.

Last year Asian private equity fund Unitas Capital invested $162.4 million in taking a significant minority stake in NEPA. (Reporting by Joyce Lee)

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