JTBC announces sale today… Selection of preferred bidder in January next year
EY Hanyoung Accounting Firm’s sale lead, proceeding with open competitive bidding
Quick Look
- JTBC issued a sale notice on the 9th and began looking for a new owner.
- EY Hanyoung, the sales manager, will conduct the sale through open competitive bidding by attracting external capital, such as a paid-in capital increase through third-party allocation and issuance of corporate bonds.
- The acquisition letter of intent will be accepted for four weeks from the date of announcement, and the preferred bidder is scheduled to be selected in January next year.
AI-generated summary
Why It Matters
JTBC issued a sale notice and began looking for a new owner. EY Hanyoung Accounting Corporation, the sales manager, announced that the sale will be carried out through open competitive bidding by attracting external capital, such as paid-in capital increase and corporate bond issuance through third-party allocation.
JTBC issued a sale notice on the 9th and began a full-fledged search for a new owner.
JTBC's sales manager, EY Hanyoung Accounting Corporation, announced in a sale announcement, "The sale will be carried out through open competitive bidding by attracting external capital, such as paid-in capital increase and corporate bond issuance through third-party allocation."
The acceptance of the letter of intent (LOI) will be accepted for 4 weeks from the date of announcement, and the preferred bidder will be selected in January next year after preliminary due diligence.
JTBC said, "We will proceed with the sale transparently and fairly in accordance with relevant laws and rehabilitation court procedures," and "We will lay the foundation for sustainable growth through mergers and acquisitions (M&A) and create an opportunity to strengthen content and channel competitiveness."
What to Watch
AI outlook — possibilities, not facts
The preferred bidder will be selected in January next year.
Likely · Within months
Open Questions
- What is the expected selling price?
- Which companies are candidates for acquisition?
- When is the sale expected to be completed?
