Macquarie Sells 7% Stake in LG CNS
Private equity firm Macquarie Asset Management has sold about 7% of its stake in LG CNS Co., the IT services subsidiary of South Korea’s LG Group, through a block sale valued at $310 million, applying a 9% discount.
Approtium Sale Initiated
Macquarie has launched the sale of Approtium, South Korea’s largest commercial hydrogen producer, in a transaction anticipated to raise over 1 trillion won ($770 million).
Four Points by Sheraton Seoul Hotel Transaction
Sources from the investment banking sector revealed Macquarie is set to sell the Four Points by Sheraton hotel near Seoul Station to KB Asset Management for roughly 170 billion won ($118.7 million).
Sale of DIG Airgas Stake
Macquarie Asset Management is in the process of divesting its entire 100% stake in DIG Airgas Co., South Korea’s third-largest industrial gas producer. This deal is expected to be the country’s largest buyout transaction.
Hanam IDC Data Center Acquisition
The Macquarie Korea Infrastructure Fund (MKIF) has finalized an agreement to acquire a 40-megawatt data center from Seoul-based IGIS Asset Management for 734 billion won ($538 million).
"Macquarie Asset Management is poised to sell significant assets across various industries in South Korea, underscoring a strategic divestment phase."
Author's summary: Macquarie Asset Management is actively divesting stakes in major South Korean assets, including LG CNS, Approtium, DIG Airgas, and prominent real estate and data center holdings, consolidating its investment portfolio.