Iwaki & Co., Ltd. cancelled the acquisition of Spera Pharma, Inc. from Bushu Pharmaceuticals Ltd.
January 24, 2021
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Iwaki & Co., Ltd. (TSE:8095) signed a share transfer agreement to acquire Spera Pharma, Inc. from Bushu Pharmaceuticals Ltd. for ¥6 billion on January 24, 2020. As per the terms, Iwaki & Co., Ltd. shall acquire 0.008 million shares equivalent to 100% stake of Spera Pharma, Inc. Post transaction, Spera Pharma will become a wholly owned subsidiary of Iwaki & Co., Ltd. For the year ending March 31, 2019, net asset, total asset, revenue, operating profit, and net income of Spera Pharma, Inc. was ¥1.2 billion, ¥3.2 billion, ¥6.4 billion, approximately ¥620 million and approximately ¥500 million respectively. The transaction is expected to complete in March 2020. As per the transaction is expected to be completed by early March, 2020. GCA Corporation (TSE:2174) acted as financial advisor to Bushu Pharmaceuticals Ltd.
Iwaki & Co., Ltd. (TSE:8095) cancelled the acquisition of Spera Pharma, Inc. from Bushu Pharmaceuticals Ltd. on January 24, 2021.
Astena Holdings Co Ltd, formerly Iwaki & Co Ltd is a Japan-based company primarily engaged in the fine chemicals business, medical business, health & beauty care (HBC) and food business, and industrial chemicals business. The Company operates through four business segments. The Fine Chemicals segment is engaged in manufacture and sale of pharmaceutical raw materials and pharmaceuticals. The Medical segment is engaged in the manufacturing and sales of pharmaceutical products. The HBC and Food segment is engaged in the manufacture and sale of cosmetic raw materials, functional food raw materials, general use medicines and related products, as well as cosmetics. The Industrial Chemicals segment manufactures and sells chemicals for electronic industries, surface treatment chemicals, chemical products, surface treatment chemical raw materials, as well as to printed circuit board and other manufacturing plants. The other businesses include consulting services and others.
ASTENA HOLDINGS CO., LTD. 