MBK seals exit of Korean bottle maker Techpack in $245m trade sale

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glass-bottlesAsian private equity major MBK Partners has sealed its KRW250bn ($245m) sale of bottle manufacturer Techpack Solutions to industry player Dongwon Group.

The deal, which was reported to have been agreed last week by a Reuters source, was confirmed in a regulatory filing made by Dongwon.

MBK originally invested in Techpack in 2008 via its Partners II fund of the same year, which closed on $1.6bn.

Last year the Hong Kong-headquartered firm reportedly hired Merrill Lynch to sell its 100 per cent stake in Techpack for KRW600bn.

MBK’s third fund has so far invested in insurer ING Life Korea and outdoor clothing company NEPA.

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