Macquarie Asset Management Sells Stake in LG CNS
Private equity firm Macquarie Asset Management has sold approximately 7% of its stake in LG CNS Co., the IT services unit of South Korea’s LG Group, through a block sale valued at $310 million with a 9% discount.
Macquarie Initiates Sale of Approtium
Macquarie Asset Management has begun the sale of Approtium, South Korea’s largest commercial hydrogen producer, in a deal expected to exceed 1 trillion won ($770 million), according to investment banking sources.
Sale of Four-Star Hotel in Seoul
Macquarie is preparing to sell a four-star hotel located in Seoul for about 170 billion won ($118.7 million) to South Korea’s KB Asset Management, according to industry insiders.
Divestment of DIG Airgas Facilities
Macquarie has started the process to sell its entire 100% stake in DIG Airgas Co., South Korea’s third-largest industrial gas producer. This is expected to become the country’s largest buyout deal.
Macquarie Korea Infrastructure Fund Acquires Data Center
The Macquarie Korea Infrastructure Fund (MKIF) has agreed to purchase a 40-megawatt (MW) data center from Seoul-based IGIS Asset Management Co. for 734 billion won ($538 million).
"Macquarie is moving to appoint advisors for the Approtium sale, targeting significant investor interest," said investment banking sources.
"The sale of the four-star hotel in Seoul to KB Asset Management marks a strategic realignment of Macquarie’s assets in South Korea."
Author’s summary: Macquarie Asset Management is actively divesting multiple South Korean assets including stakes in LG CNS, Approtium, DIG Airgas, and a Seoul hotel, while expanding in data center acquisitions.