North Haven Private Equity Asia IV LP managed by Morgan Stanley Private Equity Asia Limited, Profex, Inc. and Giorgos Korres and certain members of his family agreed to acquire 52.3% stake in KORRES S.A. - Natural Products from Giorgos Korres and other shareholders for €36.1 million.

North Haven Private Equity Asia IV LP managed by Morgan Stanley Private Equity Asia Limited, Profex, Inc., Giorgos Korres and certain members of his family agreed to acquire 52.3% stake in KORRES S.A. - Natural Products (ATSE:KORRES) from Giorgos Korres and other shareholders for €36.1 million on December 24, 2017. The purchasers will acquire the shares at a price of €5.08 per share. Completion of transaction is conditional on, among other things, consent by the lending banks of Korres. After completion of the purchasers will hold more than 82% of Korres and will therefore launch a mandatory takeover in order to acquire the remaining shares of Korres. Profex and KORRES will enter into an exclusive license and supply agreement by virtue of which Profex will undertake the distribution of KORRES products in the People’s Republic of China, Hong Kong and Macau.