The resale process of Woojin Gijeon is expected to be completed faster than anticipated. A-route affiliate Woojin Holdings announced on the 26th that it has selected the domestic private equity fund (PEF) management company 'Curious Partners' (hereinafter Curious) as the preferred bidder for the acquisition of Woojin Gijeon.
The sale target remains the same as before: 100% of Woojin Gijeon's shares. The total sale price is approximately 262 billion KRW. The two parties aim to finalize the deal by the end of May, starting with the selection of the preferred bidder.
Curious, which is undertaking the acquisition, is a domestic private equity fund (PEF) management company that supports corporate financial restructuring and business restructuring for a wide range of companies from small and medium-sized enterprises to large corporations. It has established its position by participating in various structured finance investments such as Dongbu Group, E-Land Group, Sungwoon Tank Terminal, and drillship investments held by Samsung Heavy Industries.
A representative from Curious explained, "Based on the high growth potential of the power industry, we plan to acquire Woojin Gijeon and quickly proceed with an initial public offering (IPO) to secure a long-term growth foundation for the company," adding, "Due to continuous prior interest from investors, expectations for a quick deal closing are increasing."
Woojin Gijeon has secured over 300 high-quality companies as clients across various fields such as semiconductors, displays, data centers, and renewable energy, based on over 40 years of accumulated trust with customers.
Woojin Gijeon’s distinctive feature is providing differentiated 'One Stop Service' beyond simple distribution, including consulting, design, installation, logistics, after-sales service, and maintenance. Woojin Gijeon's annual EBITDA reaches 30 billion KRW.
An A-route representative said, "Due to the recent growth of the artificial intelligence (AI) industry, increased semiconductor demand, and the boom in the cloud industry, we were able to quickly select new prospective buyers," adding, "We will work closely with the sale advisory firm to swiftly complete the main contract and deal closing, and the sale proceeds will be used to enhance corporate value by securing new growth engines."
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