The logo of Korea Zinc is pictured during a press conference in Seoul, Oct. 22. Reuters-Yonhap

MBK Partners has acquired an additional 1.13 percent stake in Korea Zinc through its special purpose company, Korea Corporate Investment Holdings, according to Northeast Asia's largest private equity firm on Thursday.

This latest acquisition increases MBK Partners and Young Poong's combined stake in Korea Zinc to 40.97 percent of the total issued shares and 46.7 percent of the voting shares, excluding treasury stocks, positioning the group closer to majority control.

According to disclosures from the Financial Supervisory Service's electronic reporting system, Korea Corporate Investment Holdings purchased 234,451 shares, which is 1.13 percent of Korea Zinc's total issued shares, through open-market trading under the careful discretion method between Nov. 12 and Wednesday.

With this transaction, Korea Corporate Investment Holdings now independently holds 7.82 percent of Korea Zinc's total issued shares, which is 8.9 percent of voting shares. This includes the 5.32 percent stake acquired via a tender offer completed on Oct. 14 and a 1.36 percent stake purchased on the open market last month.

Combined with Young Poong and related parties' existing 33.13 percent stake, as well as an additional 0.02 percent Young Poong acquired through the tender offer, MBK Partners and Young Poong have expanded their position as the largest shareholders of Korea Zinc.

“This acquisition lays a strong foundation for reclaiming our rights as the largest shareholder, including management control rights which legitimately belong to the largest shareholder, and serves as a pivotal step towards strengthening the company's corporate governance,” an MBK Partners representative said.