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PE funds buy Korean candy company.(Haitai Confectionery Co.)(Brief Article)(Statistical Data Included)
Byline: Gina Chon
SEOUL -- A consortium of CVC Asia Pacific Ltd., JP Morgan Partners Asia Ltd. and UBS Capital Asia Pacific Ltd. has bought Haitai Confectionery Co. for W415 billion ($320 million), marking another takeover of a company that fell apart in the wake of the 1997 financial crisis.
The consortium also obtained a seven-year W314 billion loan to finance part of the deal, with JP Morgan and Chohung Bank underwriting the loan, JP Morgan said in a statement released Friday.
In July, Haitai Confectionery signed a formal contract with the consortium to sell the company, which filed for bankruptcy in 1997. CVC Asia Pacific, JP Morgan and UBS …
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- Consortium acquires Korean confectioner, Haitai. (Newsletter).(Brief Article)
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Magazine article from: Candy Industry
October 1, 2001
700+ words
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News wire article from: Asia Africa Intelligence Wire
October 19, 2004
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- CROWN CONFECTIONERY LED CONSORTIUM LIKELY TO TAKE OVER HAITAI.
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News wire article from: Asia Africa Intelligence Wire
October 19, 2004
700+ words
