Korea Zinc and Bain Capital acquire 11.26% stake in the largest zinc smelter to prevent Young Poong-MBK coalition takeover.

Korea Zinc Co. and Bain Capital have acquired an 11.26% stake in the world's largest zinc smelter to protect management control from a takeover bid by Young Poong Corp. and MBK Partners. Following the buyback, Chairman Choi Yun-beom's stake rose to 29.32%. Korea Zinc plans to secure more voting rights and cancel 9.85% of shares to bolster its position, aiming to exceed 40% in friendly shares to counter the Young Poong-MBK coalition's 38% stake.