Mubadala Development Company, Abu Dhabi’s sovereign investment arm, and a group of other investors have bought a 46.9% stake in South Korean Botox maker Hugel. The consortium led by CBC Group, Asia’s largest healthcare investment company, signed a “definitive agreement” to acquire the stake in Hugel, which has a market capitalization of $2.5 billion, Mubadala said on Wednesday. The value of the deal was not disclosed.
South Korea’s GS Holdings and private equity company IMM Investment, which has more than $4.7bn of assets under management, are also part of the investor group that bought the stake from Bain Capital.
“This opportunity cements Mubadala Life Sciences’ entry into Asia, alongside our colleagues from Mubadala’s China Investment Programme team, who already have an established presence in China and a long-standing relationship with CBC,” said Camilla Macapili Languille, head of Life Sciences at Mubadala.
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