Samsung Peptide to Acquire PolyPeptide Group for KRW2.71 Trillion

MT Newswires Live

5 hours ago

Samsung Biologics (KRX:207940) subsidiary Samsung Peptide will acquire 33.02 million shares, or a 100% stake, in Swiss peptide contract development and manufacturing organization (CDMO) PolyPeptide Group for 2.71 trillion won.

The CDMO group acquisition is aimed at boosting Samsung Peptide's competitiveness in peptide contract development and manufacturing, according to a bourse filing on Monday.

The cash acquisition is scheduled to conclude on Nov. 13.

Shares of Samsung Biologics rose more than 2% at market close.

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