[Alpha Biz= Reporter Kim Sangjin] According to investment banking (IB) sources on the 12th, Q Capital Partners, a domestic private equity fund (PEF) manager, has been selected as the preferred negotiation partner in the acquisition battle for Chorokbaem Media.
On this day, Samil PwC, the main sales agent for the Chorokbaem Media sale, selected Q Capital as the preferred negotiation partner. In the recent preliminary bidding, multiple prospective buyers, including PEF manager Q Capital and Cactus Private Equity (PE), participated.
The subject of the sale is the 39.33% stake held by the largest shareholder, City Property. The estimated enterprise value based on 100% ownership is approximately 200 billion won. Consequently, the value of City Property's stake is approximately 80 billion won.
Currently, Chorokbaem Media is under a trading halt. The Korea Exchange decided to delist Chorokbaem Media in July last year due to allegations of embezzlement by former executives. In response, Chorokbaem Media decided to sell its management rights to avoid the delisting threat.
Once this transaction is finalized, it is expected that the reason for the trading halt will be resolved.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
