This photo provided by Hugel Inc. shows its headquarters in Chuncheon, Gangwon Province.
SEOUL, Aug. 25 (Korea Bizwire) — South Korea’s leading botox maker Hugel Inc. said Wednesday a multinational consortium led by local conglomerate GS Holdings Corp. bought a majority stake in the company from American private equity firm Bain Capital for 1.7 trillion won (US$1.5 billion).
Bain Capital-owned Leguh Issuer Designated Activity Co. struck a deal to sell its 46.9 percent stake in Hugel to the four-party private equity fund, Aphrodite Acquisition Holdings LLC., Hugel said in a regulatory filing.
The consortium is composed of GS Holdings Corp., Korean equity firm IMM Investment, Singapore-based health care fund CBC Group and United Arab Emirates’ sovereign wealth fund Mubadala Investment Co.
Hugel is the nation’s leading botulinum toxin sold under the brand Botulax and also produces dermal facial fillers used to minimize wrinkles.
Last year, Hugel became the first Korean company to receive the Chinese government’s approval to sell its botox products in the key Asian market.
(Yonhap)
