SEOUL, Sept. 21 (Korea Bizwire) —SK Chemicals is contemplating the potential sale of its pharmaceutical business to Glenwood Private Equity (PE), a private equity fund manager.
In response to a disclosure request from the Korea Exchange regarding Glenwood PE’s proposed acquisition of SK Chemicals’ pharmaceutical business unit, SK Chemicals stated, “We are in the process of evaluating the sale of our pharmaceutical business unit.”
Furthermore, the company revealed that they have signed a Memorandum of Understanding (MOU) with Glenwood PE to establish essential details preceding the formal agreement. SK Chemicals is actively engaged in discussions to finalize the specific terms and conditions of the transaction.
The estimated value of this deal is reported to be approximately 600 billion won.
SK Chemicals’ pharmaceutical division, operating within its life sciences division, markets products like the arthritis medication Joyce, the pain-relief patch Trast, and the ginkgo biloba blood circulation enhancer Ginexin F.
In recent times, SK Chemicals has been reshaping its business portfolio to emphasize eco-friendly materials, including the recycling of waste plastics, which are anticipated to play a pivotal role in the future of sustainable practices.
M. H. Lee (email@example.com)