Aju Capital sell-off plan canceled again

By 박윤아

Published : Oct. 13, 2016 - 11:20

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[THE INVESTOR] Aju Corp. has once again withdrawn its plan to sell its affiliate automobile financial service provider, which it been pushing for since June.

The largest shareholder of Aju Capital said on Oct. 12 that it held negotiations with four companies but failed to reach an agreement on the price, which is currently valued at 400 billion won (US$354.90 million) to 500 billion won.

The sell-off plan had been earlier canceled in 2014.

“Over the past four months, we held talks with some candidates wishing to sharpen Aju Capital’s competitiveness, which currently ranks second in the (automobile financing) industry in terms of property amount,” said an official from Aju Corp.

Aju Capital’s consolidated second-quarter operating profit rose 38.3 percent on-year to 60.3 billion won, and net profit increased 39.8 percent to 46.4 billion won.

By Park Yuna (yunapark@heraldcorp.com)

Aju Capital sell-off plan canceled again

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