Carlyle to Acquire South Korean Water Purification Firm Chung Ho for $725 Million
CG is trading near its 52-week low of $41.54 (4.7% above the low).
Summary
Carlyle Group has agreed to acquire South Korean water purification firm Chung Ho for approximately 1 trillion Korean Won, equivalent to about $725 million USD. This acquisition adds to Carlyle's active M&A pipeline, following recent deals for OMRON's Device & Module Solutions Business and MAI Capital Management, and the EU clearance of the €7.7 billion BASF coatings business acquisition. The deal represents a material capital deployment, expanding Carlyle's portfolio in the South Korean market and the water purification sector, which will impact future assets under management and fee income. This comes amidst a period where Carlyle reported a decline in Q1 distributable earnings and faced significant redemption requests from one of its private-credit funds.
At the time of this announcement, CG was trading at $43.48 on NASDAQ in the Finance sector, with a market capitalization of approximately $15.7B. The 52-week trading range was $41.54 to $69.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.