S Korea’s IMM to buy Kolmar Holdings’ pharma contract manufacturing, drug biz for $413m

Seoul, South Korea. Photo by Jana Sabeth Schultz on Unsplash

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.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.