Aekyung Group announced that it has started due diligence with potential buyers for its parent company, Aekyung Industrial.
AK Holdings, the holding company of Aekyung Group, announced on the 29th, "We are accepting letters of intent from buyers regarding the sale of equity in Aekyung Industrial and are conducting due diligence with a small number of interested buyers."
It also added, "There are currently no confirmed matters."
Aekyung Group is pushing for the sale of Aekyung Industrial to improve its financial structure and restructure its business portfolio.
In the preliminary bidding for the acquisition of Aekyung Industrial, eligible preliminary candidates (shortlist) include a consortium led by Taekwang Group, Anchor Equity Partners, and Paul Capital Korea.