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Sovereign Wealth Funds Briefing - Categorized | Investment

Temasek to up stake in South Korea’s Celltrion by $130 mln

Posted on 25 June 2013

South Korea’s Celltrion Inc said on Monday that Temasek, its key shareholder and Singapore’s sovereign wealth fund, has agreed to increase its stake in the biotech firm with an investment of about $130 million, as it awaits European approval of a key drug.
The deal comes after founder and Chief Executive Seo Jung-jin said in April that he would seek a buyer among multinational drugmakers for his controlling interest in the firm, once Remsima, a generic version of Merck & Co’s arthritis drug Remicade, is approved for sale in the European Union………………………………………..Full Article: Source


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