Stella PE Completes Second Interim Payment for Mirae I&G Acquisition... Accelerates Governance Reinforcement

Stella Private Equity (Stella PE) is accelerating the process of acquiring management rights of Mirae I&G by completing the payment of the second interim installment. Since becoming the largest shareholder, the company has also been drawing market attention by implementing a series of shareholder return and value enhancement (value-up) policies across its affiliates.

According to investment banking (IB) industry sources and company officials on July 6, Stella PE recently paid the entirety of the second interim installment related to the acquisition of management rights in Mirae I&G. As a result, it is now expected that the final payment and completion of the transaction (deal closing) will proceed smoothly.

The market is also focusing on Stella PE’s active management moves since it became the largest shareholder on March 27. The company, in consultation with the boards of its affiliates, has been implementing various policies to enhance shareholder value and strengthen business competitiveness.

A representative example is the cancellation of treasury shares. Immediately after the change in the largest shareholder, Stella PE canceled 6 million treasury shares held by Humasis last March, which accounted for 4.6% of the total number of shares issued at the time. In May, Mirae I&G also decided to cancel 1.55 million treasury shares, or 5.4% of its total issued shares, thereby expanding shareholder return policies across its affiliates.

Investments aimed at strengthening new businesses and affiliate competitiveness have also continued. In April, the company provided 10 billion won in funding by conducting a capital increase for its affiliate Billions to support new business initiatives.

Efforts to strengthen the group’s governance structure are also underway. In May, Incon purchased Humasis shares on the market to reinforce ties between affiliates, and this month, Mirae I&G participated in Incon’s capital increase, actively engaging in affiliate management. In August, Mirae I&G plans to purchase shares of another affiliate, K-Bio, in the open market, further reinforcing equity ties among affiliates.

The investment banking industry has a positive view of Stella PE’s execution capabilities. An industry insider said, “Within just a few months of the change in the largest shareholder, Stella PE has pushed ahead with large-scale treasury share cancellations, capital increases, and open market purchases among affiliates, thereby accelerating efforts to enhance shareholder value and improve corporate structure. There is considerable interest in whether the stable payment of the acquisition price, along with these proactive value-up policies, will lead to a substantial turnaround across affiliates in the future.”

The completion of the second interim payment is seen as a step that not only stabilizes the acquisition process of Mirae I&G’s management rights, but also demonstrates Stella PE’s continued commitment to shareholder returns, governance reinforcement, and value enhancement strategies across all affiliates.

This content was produced with the assistance of AI translation services.