[Edaily Reporter Kim Hyung-il ] DaouTechnology(023590)is entering the bidding process to acquire JoongAng Ilbo through a consortium formed with CJ Corp.(001040) and others. Having been selected as the preferred bidder, it has emerged as a candidate to become the new owner of JoongAng Ilbo. However, follow-up procedures remain before the final contract is signed and the acquisition is completed.

According to an electronic disclosure filed with the Financial Supervisory Service on the 20th, DaouTechnology announced that the consortium it formed with CJ Corp. and others had been selected as the preferred bidder for a third-party private placement aimed at acquiring JoongAng Ilbo. The company also stated that it had received notification of the selection from SamIl Accounting Firm, the lead advisor for the sale.

This transaction will proceed via a third-party allocation capital increase. Under this structure, the acquirer will purchase new shares of JoongAng Ilbo, and the proceeds from the sale of these new shares are expected to be used to improve the company’s financial structure, such as through debt repayment.

However, being selected as the preferred bidder does not guarantee a final acquisition. According to the disclosure, the terms, schedule, and procedures of the transaction are subject to change during future negotiations, and there is a possibility that negotiations may be suspended or terminated. Further disclosures regarding the specific details of the transaction will be made as they are finalized.