Global law firm White & Case LLP has advised South Korean multinational conglomerate LOTTE Corporation (LOTTE) on its US$160 million acquisition of a pharmaceutical manufacturing facility in New York from Bristol Myers Squibb.
The transaction represents LOTTE's first acquisition of a pharmaceutical asset to launch its pharmaceutical/healthcare business in the US. The new plant will serve as the LOTTE Center for North America Operations for its new biologics contract development and manufacturing organization business in the US. The deal is expected to close by the second half of 2022 and underlines LOTTE's aim to grow its healthcare and biologics operations.
The White & Case team which advised on the transaction was led by partner Dongho Lee (Seoul) and included partners Andres Liivak, Seth Kerschner, Steven Lutt, Tal Marnin, John Chung, Scott Fryman (all New York), Farhad Jalinous, Keith Schomig, Rebecca Farrington, F. Paul Pittman (all Washington, DC) and Tilman Kuhn (Düsseldorf), counsel Kenneth Barr (New York) and Tamer Nagy (Washington, DC), and associates Jun Kim, Yoon Choi (both Seoul), Julianne Prisco, Brittany Curcuru (both New York), Ajita Shukla, Mark Williams, Ashley Stoner (all Washington, DC) and Patrick Huston (Boston).
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