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CJ Express Korea to acquire 50% stake in Chinese logistics firm for JV
By 황유미Published : July 29, 2016 - 16:59
[DISCLOSURE] CJ Korea Express (000120) announced on July 29 that its Chinese holding company CJ Korea Express (China) Investment will acquire 50 percent stake of Chinese logistics company Shenzen Speedex Commercial Service at 81.1 billion won (US$72.09 million). This amounts to 3.42 percent of its equity capital.
The rest is owned by its previous largest shareholder TCL, an electronics company in China. TCL and CJ will establish a joint venture. The due date for acquisition is Aug. 31.
The rest is owned by its previous largest shareholder TCL, an electronics company in China. TCL and CJ will establish a joint venture. The due date for acquisition is Aug. 31.
