Korea Kolmar to purchase CJ HealthCare for $1.2B

Drug Discovery | Seoul, South Korea | Corporate Acquisition

South Korean cosmetics and pharmaceuticals maker Korea Kolmar has agreed to acquire CJ HealthCare from CJ Cheiljedang for 1.31 trillion won (about $1.2 billion), according to Reuters. The Carlyle Group and MBK Partners had also bid for the pharmaceutical unit, per an earlier Korea Economic Daily report. Shares of Korea Kolmar (KRX: 161890) gained nearly 7% Wednesday, while shares of CJ Cheiljedang (KRX: 097950) added 3%.

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