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Luye Pharma Of China To Be Sold To Investment Firm For $140 Million

China’s Luye Pharmaceutical Investment, which owns about 77% of Luve Pharma Group, is about to undergo a change of ownership, with South Korea’s MBK Partners agreeing to sell more than half its shares of the drug maker to three investment firms.

China’s Luye Pharmaceutical Investment, which owns about 77% of Luve Pharma Group, is about to undergo a change of ownership, with South Korea’s MBK Partners agreeing to sell more than half its shares of the drug maker to three investment firms. Details of the agreement, including its price, were not available, but the MBK stake has an estimated value of about $140 million. The deal is described as part of the perceived need of cash-flush funds to seek different investments. (Click here for more

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