Korea Stem Cell Bank Co., Ltd. agreed to acquire Samsung Medicos Co., Ltd. from SAMSUNG PHARM. Co., LTD. for KRW 16.3 billion.
October 30, 2017
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Korea Stem Cell Bank Co., Ltd. agreed to acquire Samsung Medicos Co., Ltd. from SAMSUNG PHARM. Co., LTD. (KOSE:A001360) for KRW 16.3 billion on October 31, 2017. Under the terms of the transaction, SAMSUNG PHARM. Co., LTD. will sell 3.8 million shares of Samsung Medicos Co., Ltd. The entire payment was paid by the series 3 convertible bond Korea Stem Cell Bank Co., Ltd. issued on October 31, 2017. The transaction price has been fully paid on the contract signing date. For the year ended June 30, 2017, Samsung Medicos Co., Ltd. reported total revenues of KRW 896.567 million, total assets of KRW 15.736 billion, net loss of KRW 1.591 billion and net assets of KRW 12.548 billion. Board of Directors resolved the transaction on October 31, 2017. The transaction is expected to complete on October 31, 2017. Han Kyung Accounting Corporation acted as the external rating institution.
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.