DL Chemical Pursues Sale of Medical Rubber Subsidiary to Glenwood PE
DL Chemical is selling its medical synthetic rubber subsidiary Cariflex to domestic private equity firm Glenwood Private Equity.
DL Group disclosed on the 4th, "DL Chemical is pursuing the sale of Cariflex and signed a binding memorandum of understanding (MOU) with Glenwood PE today to establish the basic terms before signing a definitive agreement."
DL added, "The parties are discussing specific terms, and we will make a further disclosure once details, including the signing of a definitive agreement, are finalized, or within six months."
According to industry sources, the deal covers DL Chemical's entire 100% stake in Cariflex, and the sale price is reportedly in the mid-to-high 1 trillion won range. UBS is advising on the sale.
Hot Picks Today
"Two Spend 500,000 Won in a Flash, Yet Wait Two Hours?" ... 'Dreamland' Shunned by Kids and Foreign Tourists
- The Era of Getting 200 Million Won After 30 Years Is Over... A Japanese Bank's "Perpetual Department Head" Who Just Clocked In Cries Out
- Spain Hit by Its Worst Tragedy... Lee Kangin, Moreno and Real Madrid Join Soccer World in Mourning
- They Said, “Make It Your Home for Life” - Then Suddenly Kicked 200 Passengers Off... What Happened to the Around-the-World Cruise?
- "130 Rice Bowls Sold Out in a Day"... 'Unfiltered Face' Adds 8 Million Won to Night Market Sales: China's Bungeunwoo
Cariflex produces polyisoprene synthetic rubber and latex used in surgical gloves, syringes, and rubber stoppers. It is the only company in the world that manufactures these products using anionic catalyst technology.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
