Goldman Sachs to sell Korea’s food ingredient wholesaler stake

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Goldman Sachs to sell Korea’s food ingredient wholesaler stake - Korea Economic Daily

Quick Summary:

Seoul-based Anchor Equity Partners, which bought a 46% stake in South Korea’s top medicine wholesaler Geo-Young Corp.for 150 billion won from Goldman Sachs based on a corporate value of 300 billion in 2013, sold the shares to private equity giant Blackstone Inc.based on its enterprise value of 1.1 trillion won in 2019.

Goldman Sachs, which bought the stake for 34 billion won through its private equity unit in 2017, decided to sell the shares as the fund for the investment is poised to mature.

Goldman Sachs is seeking to unload its 20.6% stake in Sun-In Co with a schedule for preliminary bidding in the middle of this month to complete the deal by year-ed, according to investment banking industry sources in Seoul on Monday.