South Korean cinema operator CJ CGV to sell 25% of Vietnam unit for $27m

CJ CGV, the cinema operation unit of South Korean conglomerate CJ Group, will offload a 25 per cent stake in its Vietnam-based real estate affiliate CJ Vietnam Company Limited for 32.4 billion won ($27 million).

The planned stake sale is aimed at improving CJ CGV’s financial health, the company said in a regulatory filing. The transaction is slated for completion on July 3.

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