Eduwang, a privately owned South Korean education services provider, is likely to be put up for sale, Money Today reported on Wednesday, 8 September.
The news report cited industry sources as saying that the company has already sent teaser letters to potential buyers to weigh their interest in the possible sale.
According to the report, the objective is to sell the existing 100% stake in Eduwang; the asking price is KRW 25bn (USD 21m).
Park Myung-jeon, the largest shareholder and his family own 100% stake in the company, it noted.
Eduwang recorded annual revenue and operating profit of KRW 23bn (USD 20m) and KRW 3.6bn respectively. However, its debt stands at KRW 27bn (USD 23m), the report said.
Source: Money Today (translated)
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