CJ CheilJedang to sell all shares of Brazilian subsidiary = South Korea

CJ CheilJedang, a major Korean food company, announced on the 10th that it will sell all of its shares in its Brazil-based subsidiary CJ Selecta. CJ Selecta is used as a feed ingredient
It is the world's largest soybean processing company in the field of concentrated soy protein (SPC), with sales of approximately 1.132 trillion won (approximately 125.3 billion yen) last year.
CJ CheilJedang had acquired 66% of CJ Selecta's shares twice in 2017 and 2019. The planned sale amount is approximately 480.5 billion U.
The final sale amount will be determined once the transaction is completed. The company has expanded its bio business portfolio to include highly profitable ARMY acids and specialty solutions.
The company announced that it plans to upgrade its products with a focus on advanced technology.