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Hyundai Green Food pulls out of $147 million WiniaMando purchase
September 4, 2014 / 11:53 PM / 3 years ago

Hyundai Green Food pulls out of $147 million WiniaMando purchase

SEOUL (Reuters) - South Korea’s Hyundai Green Food Co Ltd (005440.KS) said on Friday it has pulled out of negotiations to acquire kimchi refrigerator maker WiniaMando Inc.

Hyundai Green Food said in a regulatory filing it had made the decision to pull out of the talks after failing to reach a final agreement.

Hyundai said in August that it agreed to acquire WiniaMando for around 150 billion won ($147.25 million) from global private equity firm CVC Capital Partners. Hyundai’s regulatory filing did not elaborate on why the deal was not completed.

Reporting by Se Young Lee; Editing by Paul Tait

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