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[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Chemicals will sell its pharmaceutical division to Glenwood Private Equity (PE), a private equity fund (PEF) operator. The transaction price is expected to be around 600 billion won.
SK Chemicals plans to organize its non-core business to secure liquidity and focus on eco-friendly materials business, which is a future food. According to the investment banking (IB) industry on the 21st, SK Chemicals recently signed a memorandum of understanding (MOU) to transfer its pharmaceutical division to Glenwood PE for about 600 billion won.
While Glenwood PE is in the process of due diligence for the acquisition, the two sides are reportedly aiming to sign a SPA within the year.
The target of the sale is the pharmaceutical division of SK Chemical's Life Science division. After dividing the pharmaceutical division, Glenwood PE will take a 100% stake.
According to the Financial Supervisory Service's electronic disclosure system, the Life Science division posted annual sales of 770.6 billion won last year. Among them, the pharmaceutical division's sales are 313.9 billion won, and the rest are sales of its subsidiary SK Bioscience.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
