MBK Partners and UCK Partners’ Acquisition of Ostem Implant Through Public Offering

Lee & Ko advised a consortium formed by MBK Partners and UCK Partners (formerly known as Union Capital Korea) on the acquisition of the management right of Osstem Implant Co., Ltd., an implant manufacturing and dental device sales/manufacturing company that is listed on the KOSDAQ through Dentist Investment Co., Ltd.

The Transaction consummated by the method of coordinating the following sub-transactions: (i) the acquisition of shares held by ordinary shareholders through a tender offer; (ii) the acquisition of certain shares held by the largest shareholder (including certain shares issued by a subsidiary of the Target Company that were held by the largest shareholder and a specially related person of the largest shareholder), (iii) the acquisition of convertible bonds held by a specially related person of the largest shareholder, and (iv) the issuance of warrants to a related party of the largest shareholder of the buyer, and the transaction attracted great market attention due to the facts such as that it was invested by a consortium of leading domestic private equity funds and it was an unprecedented tender offer type buy-out transaction. Lee & Ko continues to advise on additional transactions, including the follow-up tender offer after the above initial tender offer.