CJ CheilJedang is reportedly negotiating with private equity firm MBK Partners to push forward the sale of its green bio division.
According to the investment banking sector on the 6th, MBK Partners has recently begun acquisition negotiations with CJ Group. The two sides are said to be discussing details such as price.
CJ CheilJedang's green bio division produces additives for animal feed and food seasoning materials. It particularly stands out in five of the eight essential amino acids for animal feed, including lysine.
CJ CheilJedang selected Morgan Stanley as the lead manager for the sale of its green bio division at the end of last year. However, the process was halted following the main bidding in February when only two Chinese strategic investors participated. It was reported that there were significant differences in opinions regarding the selling price between MBK Partners and other domestic and foreign investment institutions and the company at that time.
CJ is said to hope for a selling price of 5 trillion to 6 trillion won for the bio division. It is reported that MBK Partners and CJ are negotiating over the sale price.
CJ CheilJedang's bio division recorded sales of 4.2095 trillion won and an operating profit of 337.6 billion won last year. The operating profit increased by about 34% compared to the previous year's figure of 251.3 billion won.