On February 20, 2020, LG Household & Health Care (LGHH) agreed to acquire the brand “Physiogel” and related assets in Asia and North America from GlaxoSmithKline Consumer Healthcare (GSK) by entering into an asset purchase agreement (Transaction). As part of the Transaction, LGHH will acquire intangible assets, including patents, trademarks, domain names, marketing authorizations and know-how from GSK and its affiliates in more than a dozen countries around the world.
Lee & Ko acted as the sole lead counsel for LGHH from the bidding to the signing. Lee & Ko advised LGHH on (i) legal due diligence on assets across multiple countries, (ii) merger control filings in all relevant jurisdiction, (iii) regulatory requirements for cosmetic goods in each market, and (iv) negotiation and execution of the asset purchase agreement and several other transaction agreements to ensure the transfer of desired assets and facilitation of deployment of such assets as soon as possible following completion of the Transaction. Lee & Ko will continue to advise LGHH until completion of the Transaction.
[KOREA JOONGANG DAILY]LG buys rights to Physiogel for $161 million