Excelsior in block sale of CJ HelloVision shares

Private equity firm Excelsior Capital sells 37% of its stake in South Korea’s largest cable operator CJ HelloVision in a block trade on Thursday night.

Excelsior Capital sold some of its stake in South Korea’s largest cable operator CJ HelloVision in a block trade totaling up to $50 million, according to a term sheet.

Private equity firm Excelsior held 8.1 million shares in the company at the time of the accelerated secondary offering late on Thursday.

It traded 3 million shares, or 37% of its stake in the company, at 17,600 won $16.41, a 4.1% discount to the February 19 close of 18,350 won, a person close to the deal told FinanceAsia. It was initially priced between 17,550 and 18,000 won with a 90-day lockup.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222