Did Komatsu buy Valmet?
Yes, major shareholders of Korea Zinc, including MBK Partners and the Young Poong Group, filed an injunction with the Seoul Central District Court to block the company from issuing new shares to finance its $7.4 billion US smelter project. They argued that the share issuance was primarily intended to defend the management control of Korea Zinc Chair Choi Yun-beom and would unfairly dilute shareholder value. However, in December 2025, the court dismissed the injunction request, clearing the way for the company to proceed with the share issuance to a US government-controlled joint venture, Crucible JV. Despite the loss, the shareholders stated they would continue to support the project's goal of delivering long-term value.
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