Macquarie Sells Stake in LG CNS
Private equity firm Macquarie Asset Management has sold about 7% of its stake in LG CNS Co., the IT services unit of South Korea’s LG Group, through a block sale valued at approximately $310 million with a 9% discount.
Macquarie Begins Sale of Approtium
Macquarie Asset Management has started the sale process for Approtium, South Korea’s largest commercial hydrogen producer, in a deal expected to exceed 1 trillion won ($770 million).
Hotel Sale in Seoul
Macquarie is set to sell a four-star hotel, Four Points by Sheraton Josun near Seoul Station, to KB Asset Management for around 170 billion won ($118.7 million), according to investment banking sources.
Sale of DIG Airgas
Macquarie Asset Management has initiated the sale of its entire stake in DIG Airgas Co., South Korea’s third-largest industrial gas producer, marking one of the largest buyout deals in the country.
Data Center Acquisition by Macquarie Korea Infrastructure Fund
Macquarie Korea Infrastructure Fund (MKIF) has agreed to purchase a 40-megawatt data center from IGIS Asset Management Co. for 734 billion won ($538 million).
"Macquarie Asset Management is moving to appoint advisers to proceed with these strategic asset sales," said investment banking industry sources.
Summary: Macquarie Asset Management is actively divesting several key South Korean assets, including LG CNS shares, a hydrogen producer, a hotel, and an industrial gas company, while MKIF expands its data center portfolio.