이 기사는 2019년 12월 13일 08시00분 thebell에 표출된 기사입니다

Macquarie Korea Opportunities Investment (Macquarie PE) has acquired a 35 percent stake in LG CNS, an information and communications technology solutions affiliate of LG Group, aiming to raise enterprise value before pursuing the company’s listing in the coming years, which could be one of available exit routes for the private equity firm.

Macquarie PE has signed a deal to buy 35 percent of LG CNS from LG Corp last week, sources familiar with the matter said on Monday. This came after LG Corp announced its decision to sell a minority stake with an aim to enhance business competitiveness earlier this year.

With the sale, LG Corp’s stake in LG CNS has reduced to around 50 percent from 85 percent, though it is still the affiliate’s largest shareholder. Macquarie PE, now the second largest shareholder of LG CNS, has gained board seats to play its role in adding the company’s value.

In its recent regular organization overhaul, LG Group has realigned business units of both LG Corp and LG CNS, which involved personnel changes. Two independent board members recommended by Macquarie PE are expected to be appointed at the beginning of next year when the transaction completes. This would likely improve board efficiency as well as transparency, given that currently LG CNS’ board of directors consists of three members without any independent directors.

LG CNS provides system integration services and IT solutions to enterprise customers. It has a stable revenue base, with sales from transactions with its affiliates, including LG Electronics and LG Uplus, accounting for more than 60 percent of the company’s 2018 revenue. Partnership with Macquarie PE is part of efforts by the company to find future growth engines.

LG CNS is particularly focusing on areas like smart cities, smart factories and renewable energy infrastructure, seeking to make headway into overseas markets. These are exactly the specialized areas of Macquarie PE, which is working on integrating next generation technologies – such as AI, 5G and IoT – into its portfolio companies, raising the expectation of synergy between the two parties.

Macquarie PE reportedly submitted its proposal to LG Group, which contains its plan to raise LG CNS to a global player in system integration markets by leveraging its expertise and experience.

(By reporter Kim Hye-ran)