Announced
Financials
Sources
Tags
plastics films
Majority
Private Equity
Plastics
Cross Border
South Korea
Single Bidder
Acquisition
Friendly
Public
Failed
Synopsis
Baring Private Equity Asia, an Asian private equity firm, withdrew its offer to acquire a 54% stake in PI Advanced Materials, a manufacturer and distributor of polyimide films, from Glenwood Private Equity, an investment service in Seoul, South Korea, for $1bn. The move is expected to spark considerable conflict between the two private equity firms over the responsibility for the contract termination.
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