China’s Livzon Pharmaceutical Group Inc. has acquired a significant majority stake in Imexpharm Corporation, a Ho Chi Minh City Stock Exchange-listed pharma company, for a consideration of around $219 million.
Livzon Pharmaceutical, through its subsidiary LIAN SGP HOLDING PTE, acquired a 64.81% stake in Imexpharm, making it the Vietnamese firm’s largest shareholder.
The Livzon unit has signed an agreement with the sellers to purchase a total of 99.8 million shares. Of these, 73.4 million shares are owned by SK Investment, 15 million by Binh Minh Kim Investment JSC and 11.3 million shares are held by KBA Investment JSC.
Vietnam Pharmaceutical Corporation holds 22.04% of the shares in Imexpharm.
The Chinese pharma group stated that the acquisition will lay a solid foundation for the group’s further expansion into overseas markets.
Founded in 1985, Livzon specialises in the research, development, production, and sales of modern drugs, biological therapies, traditional Chinese medicines, raw materials, and diagnostic equipment. The company has a presence in over 30 countries, including the US, Europe, Japan, South Korea, and Southeast Asia.
