Macquarie Asset Management launched a tender offer on 20 July to take Gabia, a Kosdaq-listed Korean web-hosting and data-centre company, private at ₩48,000 a share.
Why Macquarie Asset Management (DCK Investment, Macquarie Korea Opportunities PEF No.6) is buying Gabia Inc.
The buyout would have put the web-hosting and data-centre group fully under Macquarie's control, with the existing management kept in place through reinvestment, before delisting it.
Deal terms and financing
DCK Investment agreed to buy 24.4% from the largest shareholder and related parties and offered the same price for the remaining 73.1%, funded with equity and a 5.6% fixed-rate loan from Mirae Asset Securities. The offer had a minimum acceptance threshold.
Regulatory approvals and timing
The offer period ran from 20 July to 17 September. The tender fell short of its minimum, according to the result report filed on 18 September, and the founder's share sale agreement was cancelled on 23 September.
Market context
Miri Capital, which holds about 24% of Gabia, argued the shares were worth at least ₩66,200, and Align Partners also opposed the price.
