CJ CheilJedang puts bio business on market for about $4 bn

Quick Summary:

It is said to use the proceeds from the bio business sale to buy a company in pursuit of global expansion.Its 2.1-trillion-won purchase in 2018 of Schwan’s Company, the second-largest frozen food maker in the US.propelled CJ’s sales of frozen food under its flagship brand Bibigo and pre-cooked rice Hetbahn sharply higher in the US.

CJ CheilJedang is reaching out to potential buyers of the bio business division that produces amino acids used in microbial food and feed ingredients, the sources told Market Insight, the capital market news outlet of The Korea Economic Daily.

CJ CheilJedang Corp., South Korea’s largest food company, is seeking to sell its bio business for about 6 trillion won ($4.3 billion) in what could be the country’s largest M&A deal this year, according to people familiar with the matter on Monday.

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Article Details

Category: Economy

Markets: South KoreaBrazilChinaJapan

Topics: Business Company Year Feed Cheiljedang Trillion Division Billion Food Group’s Sales

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 20:37:27 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 698 words

Reading Time: 4 minutes read

Sentences: 36 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23656583

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