CJ Cheiljedang Corporation, CJ STIC Global Investment Private Equity Fund, managed by STIC Investments, Inc and CJ Logistics Do Brasil Ltda completed the acquisition of 90% stake in Sementes Selecta S/A from Corpesca S.A. and other shareholders.
August 24, 2017
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CJ Cheiljedang Corporation (KOSE:A097950), CJ STIC Global Investment Private Equity Fund, managed by STIC Investments, Inc and CJ Logistics Do Brasil Ltda agreed to acquire a 90% stake in Sementes Selecta S/A from Corpesca S.A. and other shareholders for KRW 360 billion on June 12, 2017. Under the terms of the deal, CJ Cheiljedang will acquire 85.99 million shares in Sementes Selecta for a cash consideration. The deal is resolved by board of Directors on June 12, 2017. For the year ending December 31, 2016, Sementes Selecta reported total assets of KRW 257.9 billion, sales of KRW 379.4 billion, net profit of KRW 49.87 billion and total common equity of KRW 41.88 billion. Transaction is subject to antitrust approval. The transaction is expected to close on August 4, 2017. As of August 17,2017, Corpesca completed the sale of 60% stake in Sementes Selecta S/A to CJ STIC Global Investment Private Equity Fund, managed by STIC Investments, Inc and CJ Logistics Do Brasil Ltda for $214 million (KRW 230.6 billion), which will be adjusted according to net debt and net working capital within 30 days from the sale. CJ STIC Global Investment Private Equity Fund and CJ Logistics Do Brasil Ltda respectively acquired 22.67% and 37.33% stakes.
Luís Gustavo Haddad, Camila Marchetti Villares, João Paulo de Seixas Maia Krepel, Marcus Vinicius Pereira Lucas, Célia Mara Peres, Gabriel Felício Giacomini Rocco, Daniela Maria Rosa Nascimento, Isabella Mara Bodo and Henrique Mellão Cecchi de Oliveira of Lilla Huck Otranto Camargo Advogados acted as legal advisors to Sementes Selecta S/A. Mário Roberto Villanova Nogueira, André Alarcon, Min Gon Kim, Thiago Armigliato Maroli and Seonmin Han of Demarest Advogados acted as legal advisors to CJ Cheiljedang Corporation.
CJ Cheiljedang Corporation (KOSE:A097950), CJ STIC Global Investment Private Equity Fund, managed by STIC Investments, Inc and CJ Logistics Do Brasil Ltda completed the acquisition of 90% stake in Sementes Selecta S/A from Corpesca S.A. and other shareholders on August 25, 2017.
Stic Investments Inc is a Korea-based company principally engaged in the manufacture and sale of high voltage transformers (HVTs) for microwave oven. The Company operates its business through two segments. The Manufacturing Business segment is engaged in the manufacture and sale of HVTs for microwave ovens and reactors (RETs) for air conditioners. The Investment Business segment operates private equity funds and venture investment associations. The Segment is engaged in the investment in real estate, infrastructure and others.
CJ Cheiljedang Corporation, CJ STIC Global Investment Private Equity Fund, managed by STIC Investments, Inc and CJ Logistics Do Brasil Ltda completed the acquisition of 90% stake in Sementes Selecta S/A from Corpesca S.A. and other shareholders.
STIC INVESTMENTS, INC. 
