DC Advisory (DC) exclusively advised the shareholders of HoePharma Group on the strategic sale of HoePharma Holdings Sdn. Bhd. (HOE), 78.15% owned by Goldis Berhad (Goldis) and 21.85% by six other shareholders, to Taisho Pharmaceuticals (Taisho), with the deal valued at MYR 370 Mn.
The deal allowed Goldis Berhad a timely opportunity to realise and unlock the value of its investment in HoePharma Group and to raise funds for part settlement of its borrowings and/or invest in other businesses.
DC had previously advised the acquirer, Taisho, on its acquisition of Southeast Asian operations of Bristol-Myers Squibb Co.
HOE is a leading local pharmaceutical company in Malaysia with the largest market share in the ethical dermatological market in Malaysia. HOE’s products are sold to over 40 other countries, especially other Asian markets.
Taisho is principally involved in the self-medication business through over-the-counter-medicines and health-related products, and prescription pharmaceuticals.
HOE provides Taisho with a distribution platform to access both the ethical dermatological market segment in Malaysia as well as the other 40+ countries where products are sold.