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MBK Partners Delays Nexplex Auction Scheduled for July 10 Amid Home Plus Crisis

GateNews
According to Korean investment banking industry sources, MBK Partners has postponed the main round bidding for Nexplex, a flexible circuit board substrate manufacturer, originally scheduled for July 10. The delay follows Home Plus, a major investment of MBK Partners, receiving a corporate reorganization termination order from a Seoul court on July 3. MBK is currently focused on addressing Home Plus legal matters and securing operational funds, causing Nexplex's sales process to slow. Nexplex generated EBITDA of approximately 85.1 billion Korean won last year, more than double the prior year's 46.3 billion won. MBK is seeking a valuation exceeding 800 billion won, with a current EV/EBITDA multiple of approximately 9-10x. The delay has also raised uncertainty about whether leading bidders will meet MBK's valuation expectations.
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