S.Korea's LG Chem to invest $566 million to acquire U.S. Aveo Pharmaceuticals

SEOUL (Reuters) - South Korea's LG Chem Ltd said in a regulatory filing on Tuesday that it is investing $566 million to acquire U.S. firm Aveo Pharmaceuticals Inc and enter the U.S. anti-cancer drug market.

The deal is expected to close in the first quarter of 2023, LG Chem said.

(Reporting by Joyce Lee; Editing by Kirsten Donovan)