Woongjin Coway Advances as Sale to MBK to Proceed: Seoul Mover
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Woongjin Coway Co., a South Korean water-purifier maker, jumped to a one-month high in Seoul stock trading after its parent and creditors agreed to stick with a plan to sell a controlling stake to MBK Partners Ltd.
Woongjin Coway rose 12 percent to 39,800 won, the highest closing price since Sept. 26., at the end of trading on the Korea Exchange today. Woongjin Holdings Co., Coway’s biggest shareholder, jumped by the daily limit of 15 percent. The benchmark Kospi index fell 1.7 percent.