An unknown buyer agreed to acquire 38.7% stake in Korea Stem Cell Bank Co., Ltd. from SAMSUNG PHARM. Co., LTD. for KRW 9.9 billion.
December 29, 2020
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An unknown buyer agreed to acquire 38.7% stake in Korea Stem Cell Bank Co., Ltd. from SAMSUNG PHARM. Co., LTD. (KOSE:A001360) for KRW 10 billion on December 30, 2020. SAMSUNG PHARM. Co., LTD. will sell 5.95 million shares of Korea Stem Cell Bank. KRW 1.01 billion was deposited on the date of trading contract of first contract, KRW 200 million on the date of trading contract of second contract and balance KRW 8.8 billion to be deposited on June 30, 2021. SAMSUNG PHARM. Co., LTD. will own 1.2 million shares after completion of the transaction. Korea Stem Cell Bank reported total assets of KRW 79.2 billion, net loss of KRW 16.4 billion, revenue of KRW 1.9 billion and total common equity of KRW 30 billion in previous year. Transaction is expected to close on March 31, 2021. As of March 31, 2021, the transaction is expected to close on June 30, 2021.
SAMSUNG PHARM. Co., LTD., formerly SAMSUNG PHARMACEUTICAL.CO.,Ltd., is a Korea-based company principally engaged in the manufacture and sale of pharmaceuticals. The Company operates its business through two segments. The Pharmaceutical and Quasi-drug Sale Business segment manufactures and sells prescription medicines, general pharmaceuticals and quasi-medicines. This segment's products include anticancer immunotherapy agents, antipyretic analgestic and anti-inflammatory agents, hypotensive agents, antiarteriosclerotic agents, anti-spastics, enzyme agents, ostepoposis agents, antibiotics, medicines for digestive system, medicines for liver disorder, medicines for circulation system and vitamin supplements, among others. The Health Food Manufacturing and Sale segment manufactures and sells nutrition and invigoration products.