Bain exits Korea Zinc, Meritz steps in as new white knight

Private equity firm Bain Capital has sold its entire stake in Korea Zinc to Meritz Financial Group, ending its role as a key backer of Chairman Choi Yoon-beom after about 18 months, according to investment banking sources on Thursday. Bain Capital offloaded 419,082 shares, or a 2.01 percent stake, in a block deal before the market opened. The shares were sold at a roughly 10 percent discount to the previous day’s closing price of over 1.47 million won ($992) per share, with the total deal size e

By The Korea Herald