Bain Capital Secures 95% Stake in Ecomarketing, Accelerates Delisting Process
Global private equity fund (PEF) manager Bain Capital announced on May 7 that it has secured a 95% stake in Ecomarketing through three rounds of tender offers and on-exchange purchases.
On April 3, Ecomarketing stated in a voluntary disclosure that its largest shareholder, Bain Capital, would conduct on-exchange purchases at 16,000 won per share—the same price as the tender offer—to protect the interests of minority shareholders. Subsequently, Bain Capital acquired an additional 2.5% stake in a relatively short period, achieving a total of 95% ownership.
On April 3, the Ecomarketing board of directors resolved to proceed with a comprehensive share exchange involving cash compensation and disclosed a key matters report. According to the report, after the completion of the share exchange on June 15, Ecomarketing may be delisted as it becomes a wholly owned subsidiary of BCP EAVID Co 1, a company established by Bain Capital.
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A Bain Capital representative stated, "By acquiring additional shares through on-exchange purchases, we have secured a 95% ownership stake, which enables us to apply for voluntary delisting from the exchange."
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