Announced
Financials
Sources
Tags
Private Equity
South Korea
Single Bidder
Entertainment
cinema chain
Public
Minority
Friendly
Acquisition
Pending
Synopsis
MBK Partners, a private equity firm, and Mirae Asset Daewoo, an investment bank, agreed to acquire a 28.57% stake in CJ Group, a cinema chain, from CGI Holdings, a South Korean conglomerate, for $286m. The buyers will be given drag-along rights, which would allow them to sell shares under the same condition as a majority stakeholder, while CJ CGV will have a call option, or the rights to buy stocks in CGI Holdings.
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