Activist investor makes $1.4 billion offer for KT&G's ginseng unit
Published: 14 Oct. 2024, 19:08
FCP has submitted a letter of intent for the proposed acquisition of Korea Ginseng Corporation (KGC) KT&G's board. The fund said KGC has “immense potential” in a statement.
FCPl, an investor in KT&G, called for the tobacco monopoly to spin off its ginseng unit last year, but KT&G's board rejected the proposal.
A KT&G official confirmed that it has no plans to spin off KCG.
Yonhap
with the Korea JoongAng Daily
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