MBK Partners increases its offer for Hankook

MBK Partners, a private investment firm in Asia, has increased its offer to buy a controlling stake in Hankook & Company, the parent company of Hankook Tire & Technology Ltd.

MBK Partners has raised its offer to acquire a minimum of 20.35 percent and a maximum of 27.32 percent of Hankook & Company's shares by 20 percent. The revised price now stands at 24,000 won ($18.40) per share, compared to the initial offer of 20,000 won. This price is 51.4 percent higher than the closing price of 15,850 won on Friday.