Temasek cashed out part of its investment in South Korean biopharmaceutical firm Celltrion and its affiliate Celltrion Healthcare for a combined W1.07 trillion $994 million on Tuesday, as the Singaporean sovereign wealth fund continues to reshape its portfolio to address long-term opportunities.
In a rare deal that involved two listed companies, Temasek reaped $701 million from the sale of a 1.8% interest in Celltrion and $293 million from another 2.1% stake in Celltrion Healthcare. The latter is the biosimilar unit of Celltrion that listed on the Kosdaq market in July last year.
The divestment, made through Temasek's subsidiary Ion Investments, was conducted at a time...
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