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Philips shows interest in Coway's USD2.5 billion stake
(MENAFN) Dutch electronics giant Philips is showing interest in acquiring a stake in Coway Co., South Korea's top water purification maker, which is estimated at USD2.5 billion, according to released reports.
South Korean MBK Partners owns a 30.9 percent stake in Coway Co. which it acquired back in 2013, and Philips is the latest in potential investors that have showed interest in the Coway stake.
Meanwhile, some Chinese private equity funds are increasingly interested in the stake. They are cited as plausible candidates as they want to secure a foothold in the fast-growing water purification business in China by acquiring Coway.
As far as Coway is concerned, it logged USD13.4 billion in net profit through the first six months of this year, with operating profit and sales reaching USD17.6 billion and USD86 billion respectively, indicating its thriving performance.
South Korean MBK Partners owns a 30.9 percent stake in Coway Co. which it acquired back in 2013, and Philips is the latest in potential investors that have showed interest in the Coway stake.
Meanwhile, some Chinese private equity funds are increasingly interested in the stake. They are cited as plausible candidates as they want to secure a foothold in the fast-growing water purification business in China by acquiring Coway.
As far as Coway is concerned, it logged USD13.4 billion in net profit through the first six months of this year, with operating profit and sales reaching USD17.6 billion and USD86 billion respectively, indicating its thriving performance.
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