(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] CJ is proceeding with its plan to acquire CJ CGV's shares by contributing stocks of its subsidiary, CJ Olive Networks, as originally scheduled.

On the 3rd, CJ disclosed, "As a result of the appeal against the non-approval disposition of the appraisal report related to the stock contribution of CJ Olive Networks, we received notification of the cancellation of the first-instance decision and the approval decision for the appraisal report."

Previously, CJ had appealed against the court's rejection of the appraisal report approval necessary for its plan to acquire new shares of CJ CGV through a stock contribution method.

The court has approved the issuance of new shares totaling 440 billion won through third-party allocation, at a share issuance price of 13,000 won per share as originally proposed. Consequently, CJ's stake in CJ CGV will expand from approximately 33.62% to around 50%.

 

 

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