IMM Rose Gold Fund 4 managed by IMM Private Equity, Inc. completed the acquisition of pharmaceutical business unit from Kolmar Korea Co., Ltd..
December 27, 2020
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IMM Rose Gold Fund 4 managed by IMM Private Equity, Inc. agreed to acquire pharmaceutical business unit from Kolmar Korea Co., Ltd. (KOSE:A161890) for approximately KRW 340 billion on February 20, 2020. As of November 3, 2020, the deal value was updated to approximately KRW 300 million. Under the terms of the transaction, the payment would be made in cash and will be made within one month from the end of the stock purchase request period. The transaction will not include the non-pharmaceutical toothpaste business of Kolmar Korea. In a related transaction, IMM agreed to acquire Kolmar Pharma Co., Ltd. from Kolmar Korea. Transaction is subject to approval from the Fair Trade Commission approval of a special resolution at the general shareholders' meeting in relation to the transaction. A shareholders meeting is scheduled to be conducted on September 10, 2020. The transaction is expected to close on July 31, 2020. As on August 25, 2020, closing date will be decided later. As of November 3, 2020, the transaction is expected to close on December 28, 2020. Proceed from the sale will be used by seller to improve financial structure, enhancing the value of existing businesses and securing investment resources for new businesses. PricewaterhouseCoopers Korea acted as accountant to Kolmar Korea Co., Ltd.
IMM Rose Gold Fund 4 managed by IMM Private Equity, Inc. completed the acquisition of pharmaceutical business unit from Kolmar Korea Co., Ltd. (KOSE:A161890) on December 28, 2020. The consideration is paid on December 28, 2020.
Kolmar Korea Co Ltd is a Korea-based company principally engaged in the manufacture and distribution of cosmetics. The Company operates its business through three segments. The Cosmetics segment is mainly engaged in the business of original development and design manufacturing (ODM) and original equipment manufacturing (OEM) of cosmetics including skin care, makeup, hair care, body care and others. The Pharmaceutical segment develops and manufactures pharmaceuticals and quasi-drugs including ointment creams, oral solutions, external preparations, and solid preparations. The Food segment is involved in the production and sale of health functional food. The Company is also involved in the rental business. The Company distributes its products in domestic and overseas markets.
KOLMAR KOREA CO., LTD. 
