Korean cinema operator mulls over stake sales to fund growth

Los Angeles

SOUTH Korea's CJ CGV Co is considering selling stakes in some of its units, including one in China, to help fund its ambitions of turning into one of the world's biggest operators of movie theatres, according to an executive.

The company is part of the family-run CJ Group, which has businesses ranging from food to K-pop bands and films. CGV is also considering initial public offerings of overseas units or bringing in a strategic investor, executive vice-president Byung-Hwan Choi said in an interview this month in Las Vegas. He didn't say when the company would make a decision on the possibilities.