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Promotion of the establishment of Celltrion Healthcare farms
Merged with current holding company late next year
Expect to take a leap forward as a comprehensive biotechnology company
Jeongjin Seo, President of Celltrion [사진=연합뉴스]
Celltrion(258,500 + 3.40%)‘Celltrion’, the group’s developer of new drugs and biosimilars, and ‘Celltrion Healthcare’, distributor and vendor(87,700 + 2.93%)‘,’ Celltrion Pharmaceutical ‘, developer and distributor of chemically synthesized medicines(103,300 + 1.47%)Promote this merger.
Celltrion Group established Celltrion Healthcare Holdings (Health Care Holdings) on the 25th by investing in-kind shares of Celltrion Healthcare (35.54% stake) held by Chairman Seo Jeong-jin, Celltrion Healthcare’s largest shareholder, in preparation for the merger of the three companies on the 25th. Revealed. Chairman Seo Jeong-jin’s remaining stake is 11.21% due to collateral, etc. Celltrion Healthcare’s largest shareholder is Healthcare Holdings (24.33% stake).
This decision was made about a year and a half after Celltrion Group chairman Seo Jeong-jin announced at last year’s JP Morgan health conference that shareholders would merge with all three companies if they wished.
Once the qualified merger requirements are met, the current holding companies Celltrion Holdings and Healthcare Holdings merge to establish a portfolio company system by the end of next year. He explained that the establishment of Healthcare Holdings aims to separate ownership and management and strengthen governance.
If the merger is successful, the sum of the simple market capitalization is approximately KRW 52 trillion based on the closing price on the 25th.(57,900 + 0.17%)(34.5 billion won), followed by Hynix (60 billion won). Currently, Celltrion Bay’s market capitalization is approximately 35 trillion won, ranking eighth in market capitalization.
Celltrion Group said: “By establishing a portfolio company system through the establishment of Health Care Holdings, we can solidify the professional management system by separating ownership and management.”
In addition, he explained, “because the merger of the three companies allows development, production, distribution and sale at the same time in a single company, the effect of reducing costs and enhancing business transparency is also expected through the improvement of the transactional structure “.
Celltrion Group expects that a large-scale pharmaceutical company created through the merger of the three companies will exhibit increased competitiveness in the global market.
A group official said: “As the merger process is carried out with the approval of the shareholders through a special resolution at the general meeting of shareholders, the agenda will be presented to the general meeting of shareholders through the resolution of the board of directors of each company”. I will.”
Kang Kyung-joo, Reporter Hankyung.com [email protected]
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