The attempt by MBK Partners and Youngpoong to take over the board of directors of Korea Zinc was thwarted during a shareholder meeting vote, after Korea Zinc restricted Youngpoong’s voting rights. The MBK-Youngpoong alliance holds 40.97% of the company, but with Youngpoong’s voting rights restricted, their stake was reduced to 15.55%, leading to a vote in favor of Chairman Choi’s side. Despite this, three directors from the MBK-Youngpoong side were appointed to the board, giving MBK a greater voice in the management of Korea Zinc.
Original Article: Read More
Auto-posted at: 2025-03-28 21:03:50