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CJ To Pay $1.7B For 40% Korea Express Stake
CJ Group is seeking to acquire a 40 percent stake in Seoul-based Korea Express Co.
CJ Groupis seeking to acquire a 40 percent stake in Seoul-basedKorea Express Co.,Reutersreports. The South Korean conglomerate will pay a total of $1.7 billion for the acquisition.
CJ CheiljedangandCJ GLShad also secured the right to sell some of Korea Express' outstanding debt to major shareholdersDaewoo Engineering & Construction Co.andAsiana Airlines. CJ ALS is an unlisted logistics arm of CJ Group.
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