Korea's cement sector is resetting fast.
Baring Private Equity Asia’s sale of Halla Cement to a mid-tier Korean cement company, Asia Cement, is the latest in a string of deals that could strengthen pricing power.
The acquisition will transform Asia Cement into the third largest cement player in Korea with an 18% market share, up from seventh largest with a 7% share.
Baring Asia sold all of Halla Cement for an enterprise value of $710 million W773.95 billion. The price tag looks in line with recent deals.
The more dominant the oligopoly, the more pricing power for top-tier firms...
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