South Korea-based IMM Private Equity plans to acquire Kolmar Korea Holdings’ pharmaceutical contract manufacturing organisation and its drug development business for $413 million (KRW512.4 million), according to media reports.
Kolmar Korea said that its toothpaste business, which is part of its pharmaceutical business unit, will not be included in the sale, according to the company’s filing, AVCJ reported.
It announced on Wednesday that it would sell all its shares in Kolmar Pharma and its pharmaceutical business unit for KRW512.4 million, of which KRW176.1 billion for Kolmar Pharma and KRW336.3 billion for Korea Kolmar’s business unit, according to Korea Medical Review. The two companies plan to finalise the procedure by July 31.
DealStreetAsia has reached IMM Private Equity for comments.
Established in September 2006, IMM Private Equity is one of the leading private equity firms in Korea, focusing on Korea and Korea-related investment opportunities. It is managing 22 private equity funds with a total asset under management of $4.9 billion.
It invested in various industries including car-sharing, industrial gases, travel agency, financial services, among others.
Meanwhile, listed on Korea stock exchange, Kolmar Korea Holdings engages in the original development and design manufacturing of cosmetics, original equipment manufacturing of pharmaceuticals, and manufacturing of health food among others.