CJ Logistics Acquires Additional $115 Billion Worth of Shares in U.S. Subsidiary
CJ Logistics announced on the 7th that it will additionally acquire 8,264 shares of its U.S. logistics subsidiary (CJ LOGISTICS HOLDINGS AMERICA) for 115 billion KRW. After the acquisition, the shareholding ratio will be 100%. The scheduled date for the stock acquisition is the 18th of next month. The company stated that the purpose of the stock acquisition is "redemption of the issuing company's redeemable convertible preferred shares (RCPS) and procurement of operating funds."
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