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Start your day with a roundup of key stories from The Korea Herald with news and comment on all that’s happening in Korea.

Telecon acquires Vivozon in $22.6 million deal

By 박한나

Published : July 4, 2016 - 09:52

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[DISCLOSURE] Telcon (200230) said on July 4 that it has decided to acquire 1,989,174 shares, or 31.8 percent, in Vivozon, a Korean drug developer, for 26.1 billion won (US$22.6 million) to diversify its business portfolio.

For the acquisition, Telcon will raise 8.9 billion won of third-party capital and issue convertible bonds worth 13.5 billion won.

Telecon acquires Vivozon in $22.6 million deal

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