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MBK to acquire Medit Corp for $2bn

MBK Partners, a private equity firm focused on investments in Asia, is to acquire South Korea’s Medit Corp, one of the world’s largest 3D dental scanner makers, for $2 billion (2.45tn won), according to a report by the Korea Economic Daily.

MBK Partners, a private equity firm focused on investments in Asia, is to acquire South Korea’s Medit Corp, one of the world’s largest 3D dental scanner makers, for $2 billion (2.45tn won), according to a report by the Korea Economic Daily.

The report cites investment banking sources as revealing that on Thursday, MBK signed a share purchase agreement to buy a 99.5% stake in the company from Unison Capital Korea, with the deal expected to complete by February 2023.

Medit founder Minho Chang, and other shareholders who also sold their stakes, plan to reinvest most of their proceeds in the company, with MBK finally holding a 70% stake in Medit while Chang and his investors owning the remaining 30%.

Unison Capital Korea acquired a 50% stake plus one share in Medit for about 320 billion won in 2009.

With the purchase of Medit, MBK’s Fund V has now reportedly deployed  some 35% of its funding pool.

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