Daewoong affiliate CGBio in talks for private equity sale

Daewoong Group is moving to sell its regenerative medicine affiliate CGBio to a local private equity firm in a deal that could value the company up to 1 trillion won ($680 million), industry sources said Friday. The sources said IMM Private Equity has emerged as the preferred bidder for CGBio, securing exclusive negotiating rights to acquire a 51 percent stake held by the company’s largest shareholder, A-Hana. A-Hana is controlled by Bluenet, a company owned by the Daewoong Group’s founding fami

By The Korea Herald