CJ Cheiljedang Corporation (KOSE:A097950) is seeking to sell CJ HealthCare Corporation. CJ CheilJedang announced November 3, 2017 that it is internally reviewing plans to sell its shares in CJ Healthcare, but nothing has been decided in detail yet. The disclosure came following local news reports that CJ Group was preparing to sell CJ Healthcare, with aims to complete the sale by around March 2018.

CJ has reportedly hired Morgan Stanley as the underwriter for the sale. Three to four firms, including private equity funds, have already expressed interest in the purchase, according to local reports. CJ Healthcare is expected to be sold at KRW 1 trillion or more.

According to local reports, CJ CheilJedang will retain CJ Healthcare's beverage business portion, the maker of Korea's top-selling anti-hangover drink Condition.