Daewoong Pharmaceutical Co., Ltd. acquired 14.92% stake in HanAll Biopharma Co., Ltd. from Byung-Tae Kim, Sung-Soo Kim, Sung-Ji Kim, Dong-Shin Shin, and Hyun-Soo Kim for KRW 48 billion.
May 29, 2015 at 12:00 am EDT
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Daewoong Pharmaceutical Co., Ltd. (KOSE:A069620) acquired 14.92% stake in HanAll Biopharma Co., Ltd. (KOSE:A009420) from Byung-Tae Kim, Sung-Soo Kim, Sung-Ji Kim, Dong-Shin Shin, and Hyun-Soo Kim for KRW 48 billion on May 29, 2015. Daewoong will acquire 6 million shares. Byung-Tae Kim will sell 3.81 million shares, Sung-Soo Kim will sell 0.99 million shares, Sung-Ji Kim will sell 0.5 million shares, Dong-Shin Shin will sell 0.49 million shares, and Hyun-Soo Kim will sell 0.22 million shares. In a related transaction, HanAll Biopharma will issue 9.5 million shares through allocation to third parties in Daewoong Pharmaceutical Co., Ltd. The allocation is expected to close by July 30, 2015. PricewaterhouseCoopers Korea acted as accountant to Daewoong Pharmaceutical.
Daewoong Pharmaceutical Co., Ltd. (KOSE:A069620) completed the acquisition of 14.92% stake in HanAll Biopharma Co., Ltd. (KOSE:A009420) from Byung-Tae Kim, Sung-Soo Kim, Sung-Ji Kim, Dong-Shin Shin, and Hyun-Soo Kim on May 29, 2015.
Hanall Biopharma Co Ltd is a Korea-based company principally engaged in the manufacture and distribution of synthetic pharmaceuticals and biopharmaceuticals. The Company mainly manufactures and sells pharmaceutical products including antidiabetic drugs, skin drugs, muscle relaxants, hepatitis drugs, digestion drugs, anti-cardiovascular drugs, neurologic drugs, interferons, antiviral drugs, antibiotics, antihistamine, anti-inflammatory drugs, and others. The Company also engages in the leasing of real estates. The Company distributes its products in domestic and overseas markets.
Daewoong Pharmaceutical Co., Ltd. acquired 14.92% stake in HanAll Biopharma Co., Ltd. from Byung-Tae Kim, Sung-Soo Kim, Sung-Ji Kim, Dong-Shin Shin, and Hyun-Soo Kim for KRW 48 billion.
HANALL BIOPHARMA CO., LTD. 
