Korea Zinc Shares Fall as Rival Faction Secures Court Injunction
The Korea Zinc Co. headquarters in Seoul.
Photographer: Jean Chung/BloombergThis article is for subscribers only.
Korea Zinc Co. shares dropped on Tuesday after a Seoul court accepted an injunction filed by MBK Partners Ltd., which improves the chances of the private equity consortium to gain control of the company.
Shares in the world’s biggest zinc smelter fell 8.6% to close at the lowest since early October, after the court agreed with MBKP’s request to restrict Korea Zinc from implementing cumulative voting system at the extraordinary general meeting on Thursday.