Gold Price Drops to Eight-Month Low as Fed Rate Hike Bets Weigh on Bullion. Source: Photo by Michael Steinberg via Pexels 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
SoftBank Shares Slide as OpenAI IPO Delay Concerns Weigh on AI Investment Outlook 
Baidu Shares Rally as Kunlunxin Eyes $50 Billion Hong Kong IPO 
South Korea Alleges Google Abused Android App Store Dominance, Eyes Major Fine 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Nike Q4 Earnings Beat Estimates as Wholesale Growth Offsets Direct Sales Weakness 
Oil Prices Slip as U.S.-Iran Peace Talks and Strait of Hormuz Risks Keep Markets on Edge 
UN Chief Urges Nations to Close $100 Million UNRWA Funding Gap 
Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
UK House Prices Hold Steady in June as Annual Growth Misses Forecasts 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Super Micro Shares Slide After Taiwan Raids Over Alleged Nvidia AI Chip Smuggling Probe 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
Hahn & Company finally completed the merger and acquisition deal to buy SK Group’s industrial film business under its SKC affiliate. The South Korean private equity firm is investing $1.2 billion in the deal.
According to The Korea Herald, this is the largest M&A to close in the country this year, and it was completed amid global economic turmoil. Hahn & Co. said it sees SKC’s industrial film division as having big potential because its products are widely used in semiconductor, mobile, and display productions as technologies advance.
The PEF firm also noted that in 2021, SKC’s industrial film unit alone raked in KRW1.2 trillion in profits and became the largest player in South Korea, and placed fourth on the international stage. In any case, it was in June this year when Hahn & Co. inked an agreement with SK Group for the purchase of a 100% stake in the said business unit of SKC company.
The deal with SK Group is Hahn & Company’s fourth acquisition in the country since the COVID-19 pandemic started two years ago. While there is the possibility of recession due to rising inflation and overall economic instability, the company said it will still continue to seek new growth drivers and boasts it was able to retain its No. 1 position in the market. The PEF firm has already spent some $27 billion on its acquisitions since its establishment.
“This transaction represents an important milestone in what has been highly volatile M&A markets globally and within Korea,” Hahn Sang Won, Hahn & Co.’s chief executive officer, said in a statement. “We are excited to further expand SKC’s industrial film business globally and catapult the business to the next level of technological excellence and competitiveness.”
Meanwhile, The Korea Times reported that based on the company’s broad investment portfolio in the local manufacturing businesses, it is expected to make attempts to raise its acquired SKC industrial film business’ corporate values and competitiveness. From here, Hahn & Co. will keep building up its successful track record of buying and transforming local businesses in the country.
