CJ CheilJedang "Proposal to Sell Bio Business Unit from MBK"
No Specific Decisions Made Yet
CJ CheilJedang announced on the 7th that it received a proposal to sell its bio business division from the private equity fund MBK Partners.
CJ CheilJedang stated, "Although we have received a sale proposal from MBK Partners and others, no specific decisions have been made yet." They added, "We will re-disclose the information when specific details are decided or within three months." According to the investment banking industry, MBK recently offered approximately 5 trillion KRW to acquire CJ CheilJedang's bio business division.
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CJ CheilJedang's bio business division mainly produces additives for animal feed and food seasoning materials. Notably, it holds the world's number one position in five out of the eight major feed amino acids, including lysine. Last year, it recorded sales of 4.2095 trillion KRW and an operating profit of 337.6 billion KRW.
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