[Alpha Biz= Reporter Kim Jisun] Chorokbaem Media, known for producing popular dramas like “My Mister” and “All In,” has been acquired by Q Capital Partners (Q Capital), a South Korean private equity firm.
On August 12, Q Capital announced that it had signed a stock purchase agreement (SPA) to acquire 961,697 shares (39.93% stake) of Chorokbaem Media from its largest shareholder, Citi Property, for 180 billion won. The deal was facilitated by Samil PwC as the sale's advisor.
In the June auction, other participants included Artist United, a content production company led by actor Lee Jung-jae, and other private equity firms.
Q Capital is a mid-sized private equity firm that primarily invests in small and medium-sized enterprises (SMEs) in South Korea. It manages assets exceeding 2 trillion won and currently holds investments in companies such as Yellow Chicken, K1, Seoul Pharmaceutical, and Doosan Construction. Recently, it was selected as a fund manager for projects by Korea Development Bank and Export-Import Bank of Korea.
Chorokbaem Media expects to resolve its delisting issues once the transfer of management rights and share sale are completed by November. The company reported 2.413 trillion won in revenue and a 200 million won operating loss last year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
