Shinyoung Group (via Daenong) to acquire 53.29% of Paper Korea
- Deal value
- —
- Stake
- 53.29%
- Implied 100%
- —
- Revenue
- $300m
- Op. income
- $22m
- Multiples
- —
2021 연결 · DART-verified
2021 연결 · DART-verified
DART 20220330001348
- Target
- Paper Korea · Paper manufacturing (packaging paper)
- Buyer
- Shinyoung Group (via Daenong) · SI
- Seller
- UAMCO and U&I Lending
- Structure
- —
- Announced
- Sep 20, 2022
- Closed
- —
- Stage
- Announced
Target
Paper Korea, founded in 1944 and KOSPI-listed since 1976, is a first-generation Korean paper maker based in Gunsan, No.1 in packaging paper (about 62% share), and also develops real estate in Gunsan through its subsidiary The Ocean City. UAMCO has held control since 2017.
Deal rationale
Shinyoung Group said the acquisition was to diversify affiliate Daenong's business and pursue sustainable group growth; industry observers saw it as expanding from real estate development into manufacturing (Newsis). Seller UAMCO said it had played a 'firefighter' role as a restructuring investor to normalize the company and hoped a sound company would lead long-term growth, declining to disclose the price under confidentiality (Jeonbuk Ilbo). The package comprised UAMCO's 53.29% stake and KRW 195.4 billion of loans/claims held by UAMCO and U&I Loan.
| Revenue | $300m |
| Operating income | $22m |
| EBITDA | — |
| Net income | — |
2021 연결 · DART-verified · 20220330001348
Press coverage
- 뉴시스 (2022-09-21): “매각주관사인 EY한영은 전날 신영에 우선협상대상자 자격을 통보했다.”
- 전북일보 (2022-09-21): “매각 금액은 상호간 비밀 유지 약속에 따라 공개할 수 없다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.