Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Douzone Bizon Situation: TOB Setup Looks Weak; Risks Remain, but Still a Tactical Angle in Play

EQT Partners Acquires a Controlling Stake in Douzone Bizon

A Tender Offer of 10% Stake in Gabia by Align Partners Asset Management

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<ul>
<li>Founder Kim reportedly looking to offload his 21.5% stake, with EQT eyeing a ~30% control block including Shinhan’s. No succession plans, deal said to be under serious review.</li>
<li>Kim’s control premium ask could trigger Korea’s first test case of expanded fiduciary duty, with minority holders potentially suing if tender terms aren’t seen as fair under new rules.</li>
<li>Buyer likely prepping a Q3 tender offer; key watch is how minority premium stacks vs control block — could be Korea’s first de facto test case of mandatory tender mechanics.</li>
</ul>


Founder Kim reportedly looking to offload his 21.5% stake, with EQT eyeing a ~30% control block including Shinhan’s. No succession plans, deal said to be under serious review.
Kim’s control premium ask could trigger Korea’s first test case of expanded fiduciary duty, with minority holders potentially suing if tender terms aren’t seen as fair under new rules.
Buyer likely prepping a Q3 tender offer; key watch is how minority premium stacks vs control block — could be Korea’s first de facto test case of mandatory tender mechanics.


Douzone Bizon: First Real Test for Korea’s De Facto Mandatory Tender?