CJ ENM and SM reply to reviews of SM Leisure’s acquisition of CJ ENM

CJ ENM and SM Leisure are in talks a couple of doable acquisition of SM Leisure by CJ ENM.

On October 21, Mile Enterprise Newspaper reported that CJ would purchase ENM SM Leisure and would promote the information on October 22.

The outlet reported that CJ ENM will probably be taking the place of govt producer Lee Soo Man of SM Leisure as the corporate’s largest shareholder, with Lee Soo Man persevering with to play the position of head of directing the corporate’s content material enterprise.

Lee Soo Man presently owns 18.73 p.c of SM Leisure’s shares. In keeping with the report, CJ ENM estimates the web price of SM Leisure at 3 trillion to 4 trillion gained (roughly $2.5 billion to three.4 billion) and plans to purchase all of Lee Soo Man’s shares at a worth of 600 billion to 700 billion gained. making (roughly $509 million to 594 million).

In keeping with the information outlet, the 2 corporations are additionally discussing the opportunity of divesting their music enterprise phase to CJ ENM to be able to merge with SM Leisure. They’re additionally contemplating the choice of creating CJ ENM the most important shareholder whereas Lee Soo Man holds a few of his shares.

In response to the report, SM Leisure stated, “We’re in discussions with numerous corporations from a number of angles, and it isn’t true that the acquisition settlement will probably be signed on October 22.”

CJ ENM additionally stated, “We’re reviewing numerous approaches to develop our music enterprise, however nothing has been confirmed.”

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