KT&G eyes overseas M&A after rejecting activist fund's offer

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KT&G eyes overseas M&A after rejecting activist fund's offer - Korea Economic Daily

Quick Summary:

KT&G Corp., South Korea’s dominant tobacco and ginseng producer, is seeking to acquire a Japanese ginseng company, after dismissing a 1.9-trillion-won ($1.3 billion) buyout offer from an activist fund for its wholly owned unit Korea Ginseng Corp.

Given the relatively small size of Japanese ginseng producers, investment bankers estimate any deal KT&G could strike would be valued at between 100 billion and 200 billion won ($70 million-140 million).

Korea Ginseng, better known for its signature Jung Kwan Jang brand, is the country’s largest supplier of red ginseng products, a popular health supplement.In 2024, it earned 66.7 billion won in operating profit on sales of 1.1 trillion won.