CJ Logistics Acquires 1.05 Million Shares of Naver for 300 Billion KRW

[Asia Economy Reporter Han Jinju] CJ Logistics announced on the 26th that it will acquire 1,047,120 shares of Naver (NAVER) stock for 300 billion KRW. After acquiring the shares, CJ Logistics' stake in Naver will be 0.64%. The scheduled date for the stock acquisition is the 27th.

CJ Logistics stated, "This transaction is related to the mutual purchase of treasury shares between our company and Naver to strategically strengthen and maintain our business partnership," adding, "According to the stock purchase agreement with Naver, both companies have signed a contract for a right of first refusal call option and a put option."