[Alpha Biz=(Chicago) Reporter Kim Jisun] Kwangdong Pharmaceutical made an announcement on the 4th that it has signed a memorandum of understanding with BL Farmtech, the largest shareholder, to sign a stock acquisition contract for health functional food company BL Healthcare.

Kwangdong Pharmaceutical said it has decided to acquire a 58.74% stake in BL Healthcare from BL Farmtech and will sign a stock trading contract within this year. The acquisition of the stake is worth 30 billion won.

BL Healthcare is a company specializing in health functional foods and has also entered the bio new material research and functional cosmetics business.

 

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