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A consortium led by MBK Partners, a North Asian private equity giant controlled by South Korean billionaire Michael Kim, is acquiring the Japanese Senior Printed Circuit Commission committee for corporate value of 100 billion yen (about $660 million).
MBK said in a statement Thursday that the consortium, joined by US semiconductor testing company FormFactor, has signed a stock purchase agreement with Japanese private equity firm Advantage Partners. MBK will acquire 50% of the shares, while FormFactor will acquire the remaining 20% of the shares.
Located in Nagano, central Japan, FICT was founded nearly fifty years ago as a printed circuit board unit of Fujitsu and separated from the Japanese technological behemoth in 2002. Fict is a high-end printed circuit board station for supercomputers, semiconductor testing equipment and basic equipment and basic equipment.
MBK pointed out that in the decision to prosper the AI boom, demand for semiconductor products has continued to rise. FormFactor said in another statement that the transaction is expected to close within the quarter.
MBK, which manages more than $31 billion in assets, has been making headlines in recent months trying to win over the management control of South Korea's zinc, one of the world's largest producers of refined zinc. Last September, the acquisition company teamed up with young Poong, a top shareholder of South Korea's zinc, to launch a 2 million won ($1.5 billion) bid offer to have greater ownership in the metals giant, hoping to expel its directors. Chang Yun B. Choi.
However, Choi owns about 35% of the shares with US private equity firm Bain Capital and his friendly group, which owns nearly 41% of the shares in South Korea zinc, MBK-Young Poong Alliance Attempt to own nearly 41% of the shares. At a remarkable equity meeting in late January, demanding an end to managing hatred, Choi retained control of the board after reaching a last-minute stock purchase agreement, effectively banning his competitors from voting. MBK-Young Poong Alliance said legal action will be taken against Choi and other management officials to limit voting rights.
