The CJ Group will seek aggressive global management based on mergers and acquisitions (M&As) with overseas companies this year.
According to industry sources on Jan. 6, the company has recently deployed M&A exports on the inside, completing the preparation for M&As with overseas firms. The group sold CJ O Shopping's 53.9 percent stake in CJ Hellovision to SK Telecom for 1 trillion won (US$833.33 million), securing funds.
CJ is planning to focus on investing in the sector with great overseas growth potential, such as logistics, biotechnology and multiplex cinemas.
By subsidiary, CJ Korea Express Corporation took over Rokin Logistics, China’s freezing logistics firm, last year, but it failed to deliver other distinguished M&A accomplishments. Previously, the company failed to acquire Singapore’s ALP Logistics. Also, it couldn’t put M&As into action in 2013, though the company considered the takeover of American and Indian logistics companies.
CJ Cheil Jedang is going forward with M&As in the biotechnology sector. The company pushed ahead with M&As with Vietnamese and Chinese companies, but it stopped at a step before the final takeover.
With the opening of CGV Chengdu in China, the company opened its 100th global theater last year. CJ CGV is expected to make more active movements to purchase overseas theaters this year, when the number of overseas cinemas will exceed that of domestic theaters. The company failed to acquire two large Indian theaters early last year.
CJ’s global outcome creation plan is also reflected in the New Year’s address of group Chairman Son Kyung-sik. Son said, “The group should accelerate the growth focusing on global businesses. Each company should speed up the growth of its major business further in order to grow into the number one brand in the global market, and make an effort to seek a new growth engine.”