Mubadala Part of Buyer’s Group for a Stake in Botox Maker Hugel
Posted on 08/25/2021
An investor group led by China-based CBC Group (formerly C-Bridge Capital) inked a deal to acquire a 46.9% stake in Hugel, Inc. from Bain Capital for 1.7 trillion KRW (US$ 1.5 billion). Hugel is a bio-pharmaceutical company that focuses on developing beauty/cosmetics related products and is known for its botox manufacturing. Botox and fillers makeup the majority of Hugel’s second quarter 2021 revenue.
The buying investor group consists of CBC Group, Mubadala Investment Company, South Korea-based GS Holdings Corporation, and private equity firm IMM Investment Corporation. Part of the buying transaction includes agreed-for payments for shares and convertible bonds, GS Holdings and Hugel said in regulatory filings.
Hugel is a listed company on South Korea’s junior board KOSDAQ.