Kwangdong Pharmaceutical to Acquire Health Functional Food Company BL Healthcare... Acquisition Price 30 Billion KRW

Kwangdong Pharmaceutical announced on the 4th that it has signed a memorandum of understanding (MOU) with BL Pharmtech, the largest shareholder of BL Healthcare, a health functional food company, for the acquisition of shares.

Kwangdong Pharmaceutical plans to acquire 58.74% of BL Healthcare's shares from BL Pharmtech. The purchase price is 30 billion KRW, approximately 4,830 KRW per share.

A Kwangdong Pharmaceutical representative stated, "The formal contract is expected to be signed within this year," adding, "However, if reasons for cancellation of this MOU arise or its validity is lost, the contract may not be executed."

BL Healthcare is a company specializing in health functional foods. It has also expanded into bio new material research and functional cosmetics business.