Telecommunications & Media
Shinsegae joins CJ, Dowkium consortium to buy JoongAng Ilbo
Shinsegae will participate with CJ Group in the acquisition of JoongAng Ilbo after the Dowkium-CJ consortium was named preferred bidder, industry sources said on Monday. Shinsegae is expected to take a minority stake and become the third-largest shareholder after the deal, they said. The purchase price is put at about 500 billion won, to be financed through a third-party allotted capital increase to support debt repayment and improve finances.
