Macquarie sells LG CNS stake and other Korean assets
Macquarie Asset Management has sold around 7% of its holdings in LG CNS Co., the IT service affiliate of South Korea’s LG Group, for approximately $310 million at a 9% discount. The sale marks another step in the firm’s active divestment strategy within Korea’s infrastructure and energy markets.
Approtium hydrogen business sale
Macquarie has started the process of selling Approtium, South Korea’s largest commercial hydrogen producer. The deal is expected to bring in more than 1 trillion won (around $770 million), according to sources in the investment banking sector.
Hotel divestment in Seoul
Industry sources also report that Macquarie plans to sell the Four Points by Sheraton Josun hotel at Seoul Station. The four-star property is valued at approximately 170 billion won ($118.7 million) and is expected to be acquired by KB Asset Management.
Sale of DIG Airgas
Macquarie Asset Management is preparing to offload its full ownership of DIG Airgas Co., the third-largest industrial gas producer in South Korea. If completed, the deal could become one of the biggest private equity buyouts in the country.
Acquisition of Hanam IDC data center
At the same time, Macquarie Korea Infrastructure Fund (MKIF) has reached an agreement to purchase a 40-megawatt data center in Hanam from IGIS Asset Management Co. for 734 billion won (about $538 million).
“Macquarie continues to rebalance and diversify its investment portfolio in Korea, spanning energy, infrastructure, and technology sectors,” said one investment banking source.
Summary
Macquarie accelerates its Korean portfolio reshaping by selling multiple assets, including stakes in LG CNS, Approtium, DIG Airgas, and a major Seoul hotel, while expanding data infrastructure investments.