MBK Partners Acquires Daesung Industrial Gases

Cleary Gottlieb is representing MBK Partners in the acquisition of Daesung Industrial Gases Co., Ltd. from its shareholders, including Goldman Sachs and Daesung Group Partners Co., Ltd.

The transaction, which was announced on February 24, 2017, is expected to close in the first quarter of 2017.

Established in 1979, Daesung Industrial Gases is a leading industrial gas producer in South Korea. The company provides industrial gases, such as oxygen, nitrogen, argon and hydrogen, along with specialty gases for semiconductors, ultra-high purity gases, standard gases, gas mixtures and other specialty gases.

Established in March 2005, MBK Partners is the largest private equity firm in Korea and one of the largest private equity groups in the Asia-Pacific region with over $10.1 billion in capital under management (according to the official website of MBK Partners). Cleary also represented MBK Partners in its acquisition of ING Life Insurance Korea for $1.65 billion in 2013 and its acquisition of Homeplus for $6 billion in 2015.