An asset purchase agreement by and between Binex Co., Ltd. (the acquirer) and Hanwha Chemical Co., Ltd. (the seller) was entered into as of July 9, 2015, in relation to the sale and purchase of seller’s production facility located at Osong Biovalley. The purchase price was KRW 60 billion, and the successful closing of the transaction was expected to take place before the end of August 2015.

The purchased assets consisted of biomedicine production facilities and equipment with the production capacity of 7,000 litres, which could be expanded up to 70,000 litres, on a 36,000㎡ site, and is equipped with automated system for production of clinical trial samples as well as mass production of commercialized biomedicines.

Aside from the high deal value, the deal structure itself was quite complicated as it involved not only typical issues in asset purchase transactions but also issues such as the transfer of real estate within an industrial complex (Osong Biovalley) and the resolution of employment relationships. Lee&Ko served as counsel to Binex Co., Ltd and provided a comprehensive review of the potential legal issues and proposed the most effective transactional structure for the deal.