MBK Partners acquires 71.25% of Geo-Young (Chosun Hye GY Holdings) for KRW 2tn
- Deal value
- $1.4bn
- Stake
- 71.25%
- Implied 100%
- $1.9bn
- Revenue
- $3.1bn
- Op. income
- $5m
- Multiples
- EQV/EBIT 412.8xPSR 0.6x
Deal value ÷ stake (structure unconfirmed)
2023 연결 · DART-verified
2023 연결 · DART-verified
On implied equity value
DART 20240429000826
- Target
- Geo-Young (Chosun Hye GY Holdings) · Pharmaceutical distribution (wholesale)
- Buyer
- MBK Partners · FI
- Seller
- Blackstone (SHC Golden)
- Structure
- —
- Announced
- Apr 22, 2024
- Closed
- —
- Stage
- Closed
Target
Geo-Young is Korea's largest pharmaceutical wholesaler/distributor by revenue; its holding company Chosun Hye GY Holdings owns 99% of Geo-Young. Group consolidated revenue was KRW 4.4386 trillion in 2023, its 11th consecutive year above KRW 1 trillion.
Deal rationale
According to Dailypharm, Blackstone acquired its stake in Geo-Young's holding company in 2019 for KRW 1.1 trillion and sold it to MBK Partners after roughly five years. Founder Cho Sun-hye keeps her 22% holding-company stake and continues to run the business, per reports. Ajunews noted MBK had acquired six healthcare companies in the prior three years, including Medit and Osstem Implant.
| Revenue | $3.1bn |
| Operating income | $5m |
| EBITDA | — |
| Net income | — |
2023 연결 · DART-verified · 20240429000826
Press coverage
- 데일리팜 (2024-04-22): “인수금액은 2조원으로 2019년 책정된 지오영의 기업가치보다 2배가량 뛰었다.”
- 아시아경제 (2024-04-23): “양측은 상반기 중으로 거래를 최종 마무리할 계획이다.”
- 딜사이트 (2024-04-22): “지오영 지분 100%의 가치를 약 2조원으로 책정한 것으로 전해진다.”
- 아주경제 (2024-04-23): “조선혜지와이홀딩스 지분 71.25%를 1조9500억원에 인수하는 SPA 체결”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.