JTBC [Newsis]
JTBC [Newsis]

JTBC has launched a formal search for new ownership amid ongoing corporate rehabilitation proceedings, pursuing outside investment through an open competitive bidding process.

EY Hanyoung, the accounting firm serving as JTBC's sale manager, issued a sale notice Monday announcing plans to seek outside capital through a third-party allotment of new shares and the issuance of corporate bonds via open competitive bidding, according to Star Today.

Letters of intent from prospective buyers are now being accepted, with a submission window of four weeks from the announcement date. The process will then move through preliminary due diligence and the receipt of acquisition proposals, with a preferred negotiating partner expected to be selected in January.

The sale is part of JTBC's ongoing corporate rehabilitation process. The Seoul Bankruptcy Court approved the sale notice Tuesday, clearing the way for a merger and acquisition process to proceed before a rehabilitation plan is formally confirmed.

The transaction is structured around raising new capital rather than a straightforward sale of existing shares. The core aim is to secure investment funds and improve JTBC's financial position through a paid-in capital increase and the issuance of corporate bonds.


husn7@heraldcorp.com