MBK Partners threatens legal action against Korea Zinc management over 'false' EGM materials
Private equity firm MBK Partners has threatened legal action against Korea Zinc management over what it called “false and misleading” claims about companies in its investment portfolio, escalating the latest fight for control of the zinc smelter ahead of an extraordinary general meeting (EGM). Korea Zinc is due to hold the EGM on Sept. 9, with shareholders set to vote on five outside directors,…
Private equity firm MBK Partners has threatened to sue Korea Zinc management over "false and misleading" information about its investment portfolio companies. The dispute has intensified as the company prepares for an extraordinary general meeting (EGM) on September 9. Shareholders will vote on five new board members, including an audit committee member.
MBK Partners, led by Young Poong, is attempting to gain control of the board in a power struggle with Chairman Choi Yun-beom. The firm objected to the explanatory materials for the meeting published by Choi's team on Korea Zinc's website, claiming they selectively presented and distorted facts about the performance of executives at portfolio companies.
MBK Partners demanded the removal of these materials and measures to prevent similar claims in the future. The firm warned it could file criminal complaints and other legal actions if its demands are not met.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
