Macquarie Asset Management Sells 7% Stake in LG CNS
Private equity firm Macquarie Asset Management sold about 7% of its shares 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.
Sale of Approtium's Ulsan Plant
Macquarie initiated the sale of Approtium, South Korea’s largest commercial hydrogen producer. The deal is expected to exceed 1 trillion won ($770 million), according to investment banking sources.
Hotel Sale in Seoul
Macquarie is set to sell the Four Points by Sheraton Josun, a four-star hotel near Seoul Station, for about 170 billion won ($118.7 million) to KB Asset Management, industry sources reported.
Divestment of DIG Airgas
Macquarie has launched the sale of its entire 100% stake in DIG Airgas Co., the third-largest industrial gas producer in South Korea. This transaction is projected to be the country's largest buyout deal.
Data Center Acquisition by Macquarie Korea Infrastructure Fund
Macquarie Korea Infrastructure Fund (MKIF) agreed to purchase a 40-megawatt data center from Seoul-based IGIS Asset Management Co. for 734 billion won ($538 million).
"Macquarie Asset Management is actively divesting key assets in South Korea across various sectors, indicating a strategic portfolio realignment."
Author's summary: Macquarie Asset Management is executing major sales in South Korea, divesting significant stakes in LG CNS, Approtium, DIG Airgas, and a Seoul hotel while expanding infrastructure investments.