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CJ CheilJedang's headquarters (CJ CheilJedang) |
[Alpha Biz= Paul Lee] CJ CheilJedang has reportedly decided not to proceed with the sale of its green bio business, which is part of the group's bio division.
According to investment banking industry sources, the company has informed potential buyers of its decision not to sell. Earlier, CJ CheilJedang had appointed Morgan Stanley as its advisor and received interest from large private equity firms (PEFs) and strategic investors (SIs), including Chinese firms like Meihua and Kwangshin. The deadline for the final bids was on the 12th of this month, with MBK Partners being one of the leading potential buyers.
The green bio business, which saw a significant improvement in performance last year, is now considered one of the group's key assets. It seems that CJ CheilJedang has decided that selling the business is not necessary at this point. The projected revenue for the green bio business this year is around 4 trillion won, with an estimated EBITDA of 700 billion won.
CJ CheilJedang is focusing on gaining a technological edge through aggressive R&D investments. The estimated value of the green bio business is around 6 trillion won, making it one of the highest-valued M&A targets this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
