Korean conglomerate CJ CheilJedang has decided to sell its feed and livestock unit for a whopping $1.4 billion.

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Korean conglomerate CJ CheilJedang has decided to sell its feed and livestock unit for a whopping $1.4 billion. - Korea Economic Daily

Quick Summary:

The company was the only subsidiary with an operating loss last year among CJ CheilJdang’s units.“CJ is expected to emphasize that earnings will significantly improve from this year as the feed business remarkably changes in line with the global market usually,” said one of the sources.“They are highly likely to set a sale price based on the average operating profit of around 100 billion won for the last five years.”The seller is also predicted to attract buyers with CJ Feed&Care’s large business networks as it is the largest player in Asia’s feed and livestock industries, industry sources in Seoul said.

South Korean food giant CJ CheilJedang Corp.is seeking again to sell its loss-making feed and livestock subsidiary, Asia’s largest in the industry, for as much as $1.4 billion to focus on its main business.

CJ CheilJedang, known for its leading brand Bibigo, has been selecting advisors to sell a 100% stake in CJ Feed&Care, a wholly-owned subsidiary split off from the parent in July 2019 for the biological resources business, investment banking industry sources on Friday.