Return to search

Goldman, shareholders sell South Korea’s Daesung Industrial Gases: Reuters

Goldman Sachs (GS.N) and other shareholders said on Friday they had sold 100 percent of South Korea’s second-largest producer of industrial gases to Asian private equity firm MBK Partners.

The shareholders of Daesung Industrial Gases, including Goldman and Daesung Group Partners Co Ltd, (005620.KS) did not disclose the sale price.

The sale price is about $2 billion, South Korean online media Money Today reported this week, citing unnamed industry sources. That would be a record high price for a private equity-to-private equity buyout deal in South Korea.

A Goldman Sachs spokesman declined to comment on price.

Daesung Industrial Gases makes more than half of its revenue from industries such as display, semiconductors and petrochemicals.

It reported an operating profit of 53.9 billion Korean won ($47.71 million) on revenue of 581.1 billion.