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M&A Buzz In Korea: CJ HealthCare On the Block

 
• By Jung Won Shin

CJ Group plans to sell its healthcare affiliate, in what could potentially emerge as the first major M&A deal involving a South Korean pharma firm in recent years. Although the company has not ruled out the option of an initial public offering as an alternative, the sale plan possibly reflects the changing dynamics in the Korean pharma industry.

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Leading South Korean food company CJ CheilJedang has hired Morgan Stanley to manage the sale of its wholly-owned subsidiary CJ HealthCare Corp., a mid-size pharma, in what could potentially signal the first major M&A activity in the domestic pharma industry in recent years.

"It is too early to say anything else. Details such as sale method or timing haven't been determined," said

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