Macquarie Sells 7% Stake in LG CNS
Private equity firm Macquarie Asset Management has sold about 7% of its shares in LG CNS Co., the IT services division of South Korea’s LG Group, through a block sale valued at $310 million with a 9% discount.
Approtium Sale Underway
Macquarie has initiated the sale of Approtium, South Korea’s largest commercial hydrogen producer, in a transaction expected to exceed 1 trillion won ($770 million), according to investment banking sources.
Seoul Hotel Sale
Macquarie is preparing to sell a four-star hotel in Seoul, the Four Points by Sheraton Josun near Seoul Station, for approximately 170 billion won ($118.7 million) to KB Asset Management, industry insiders reported.
Sale of DIG Airgas Stake
Macquarie has started the process to sell its entire 100% stake in DIG Airgas Co., South Korea’s third-largest industrial gas producer. This transaction is set to be the country’s largest buyout deal.
Data Center Acquisition by MKIF
Macquarie Korea Infrastructure Fund (MKIF) has reached an agreement to acquire a 40-megawatt data center from IGIS Asset Management Co. in Seoul for 734 billion won ($538 million).
According to investment banking sources, these sales are part of Macquarie’s strategic portfolio adjustments in South Korea.
Author's summary: Macquarie Asset Management is actively divesting several key South Korean assets, including stakes in LG CNS, hydrogen producer Approtium, and the DIG Airgas industrial gas company, while MKIF expands data center holdings.