Boryung Biopharma changed from selling all of its shares to selling 90%.

COMPANY / Reporter Paul Lee / 2023-12-12 13:18:28
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[Alpha Biz=(Chicago) Reporter Paul Lee] Boryeong BioPharma, which made its third sale after two failed sales, turned from the full sale to the sale of its 90% stake.

According to the investment banking (IB) industry on the 12th, the sale of Boryeong Biopharma, a subsidiary of Boryeong Group, has been reduced to 90% from the entire stake. Boryeong Partners (69.29% stake), the largest shareholder, decided to sell only 59.29%, leaving a 10% stake. Boryeong Partners decided to remain the second largest shareholder, expecting the company to grow further even after the sale. It is also known that the calculation is based on the impression that the owner is a company that he or she will rely on to complete the sale.

The shareholders of Boryeong Biopharma are Boryeong Partners (69.29% stake), Boryeong Partners CEO and Boryeong Group third-generation manager Kim Jung-kyun (1.78%), and the owner's family and financial investors (FI). FI includes Shinhan BioPharma (8.77%) and Mirae Asset Securities (3.69%).

The stake will be acquired by KL & Partners. Currently, we have signed a memorandum of understanding (MOU) and are receiving consent from existing financial investors (FI). We formed a consortium for the acquisition. In addition to PCL, a company specializing in in vitro diagnosis, it is raising funds in partnership with the Pharmaceutical Bio Strategic Investor (SI) Corps. The acquisition is estimated to be worth a total of 450 billion won, including 50 billion won in cash held by the company.

 

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)

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