Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>MBK’s funding plan for Korea Zinc involves using ₩1T from their 6th Buyout Fund and the rest via debt. This setup leaves room to potentially increase the tender price.</li>
<li>The key question is if there’s enough upside at this price. MBK’s silence on abandoning Youngpoong suggests they’re unlikely to fully bail on Korea Zinc even if the tender fails.</li>
<li>With MBK’s strategy leaked, institutions may hesitate, fearing less price drop risk, suggesting a proxy battle could heat up. We should consider spread trading and post-tender price moves.</li>
</ul>


MBK’s funding plan for Korea Zinc involves using ₩1T from their 6th Buyout Fund and the rest via debt. This setup leaves room to potentially increase the tender price.
The key question is if there’s enough upside at this price. MBK’s silence on abandoning Youngpoong suggests they’re unlikely to fully bail on Korea Zinc even if the tender fails.
With MBK’s strategy leaked, institutions may hesitate, fearing less price drop risk, suggesting a proxy battle could heat up. We should consider spread trading and post-tender price moves.


Main Takeaways from Today’s MBK Press Briefing About the Korea Zinc Tender

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Monetary / Caixin Explains: Why and How China is overhauling monetary policy (Part 3)</li><li>Huawei /Cover Story: Huawei’s smart car ambitions face hurdles as it seeks to replicate Aito’s success</li><li>Corruption /: Ex-education vice minister targeted in corruption probe</li></ul>

Monetary / Caixin Explains: Why and How China is overhauling monetary policy (Part 3)Huawei /Cover Story: Huawei’s smart car ambitions face hurdles as it seeks to replicate Aito’s successCorruption /: Ex-education vice minister targeted in corruption probe

CX Daily: Why and How China’s Overhauling Monetary Policy (Part 3) 

Podcast by Andrew Walker, a PM at Rangeley Capital, Yet Another Value Podcast

Yet Another Value Podcast

Podcast by Andrew Walker, a PM at Rangeley Capital

Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.substack.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas. Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer

Equity Bottom-Up

<ul><li>Dowlais is a UK-listed auto parts business worth 820 million GBP with a core business in GKN auto and the non-core business in GKN powder Metallurgy.</li><li>The company was spun off from Melrose Industries in 2020 and is currently undergoing a strategic review to potentially sell off the powder Metallurgy business, which could be worth over 1 billion GBP.</li><li>Dowlais's core auto business is a global market leader in auto components and the potential sale of the powder Metallurgy business could exceed the company's current market cap.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Dowlais is a UK-listed auto parts business worth 820 million GBP with a core business in GKN auto and the non-core business in GKN powder Metallurgy.The company was spun off from Melrose Industries in 2020 and is currently undergoing a strategic review to potentially sell off the powder Metallurgy business, which could be worth over 1 billion GBP.Dowlais's core auto business is a global market leader in auto components and the potential sale of the powder Metallurgy business could exceed the company's current market cap.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Value Situations' Conor Maguire on Why Strategic Review at Dowlais $DWL.L Indicates a Live Catalyst

Podcast by CEO, Norges Bank Investment Management, In Good Company with Nicolai Tangen

In Good Company with Nicolai Tangen

Podcast by CEO, Norges Bank Investment Management

The CEO of the largest single investor in the world, Norges Bank Investment Management, interviews leaders of some of the largest companies in the world. You will get to know the leader, their strategy, leadership principles, and much more. Hosted on Acast. See https://www.acast.com/privacy-policy for more information.

Contemporary Amperex Technology (CATL) / Equity Bottom-Up

<ul><li>Company specializes in battery products for electric vehicles and energy storage</li><li>Competes with itself to continuously innovate and invent new chemistries</li><li>Relies on state support in China to quickly meet consumer needs and roll out products efficiently</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Company specializes in battery products for electric vehicles and energy storageCompetes with itself to continuously innovate and invent new chemistriesRelies on state support in China to quickly meet consumer needs and roll out products efficientlyThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

CATL CEO & Founder Robin Zeng:  The Journey to Market Dominance

Podcast of business and financial stories, Behind the Money

Behind the Money

Podcast of business and financial stories

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world.

<ul><li>A Canadian company, Alimentation Couche-Tard, has made an unsolicited offer to acquire Japan's Seven &amp; I Holdings, the owner of the popular 7-11 convenience store chain, marking Japan's largest foreign-led takeover attempt.</li><li>This proposed takeover could signal a shift in Japan's traditional resistance to foreign acquisitions, opening up opportunities for more global mergers and acquisitions in the country.</li><li>The deal would create a global giant in the convenience store industry and represents a significant change in Japan's deal-making and corporate culture.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

A Canadian company, Alimentation Couche-Tard, has made an unsolicited offer to acquire Japan's Seven &amp; I Holdings, the owner of the popular 7-11 convenience store chain, marking Japan's largest foreign-led takeover attempt.This proposed takeover could signal a shift in Japan's traditional resistance to foreign acquisitions, opening up opportunities for more global mergers and acquisitions in the country.The deal would create a global giant in the convenience store industry and represents a significant change in Japan's deal-making and corporate culture.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

How a 7-Eleven takeover could reshape corporate Japan

Main Takeaways from Today’s MBK Press Briefing About the Korea Zinc Tender

This post offers the rundown on the key takeaways from today’s MBK press briefing about the Korea Zinc tender, particularly from a trading...

Sanghyun Park

CX Daily: Why and How China’s Overhauling Monetary Policy (Part 3)

Monetary / Caixin Explains: Why and How China is overhauling monetary policy (Part 3) China’s central bank has started a major overhaul of how it...

Caixin Global

Value Situations' Conor Maguire on Why Strategic Review at Dowlais $DWL.L Indicates a Live Catalyst

Tigus offers in-depth industry and company analysis through their research platform, providing valuable insights and a crystal clear view of...

Yet Another Value Podcast

CATL CEO & Founder Robin Zeng: The Journey to Market Dominance

The company prioritizes providing high-quality chemical materials for their products, leading to strong consumer satisfaction, with a focus on...

In Good Company with Nicolai Tangen

How a 7-Eleven takeover could reshape corporate Japan

Canadian company Alimentation Couche-Tard is making a bid to buy Japan's Seven and I Holdings, potentially marking a significant shift in Japanese...

Behind the Money