S&C Hong Kong and Frankfurt teams Advise SK Bioscience in KRW 451 billion Acquisition of IDT Biologika

South Korea-based vaccine developer SK Bioscience has agreed to acquire, through its German subsidiary, a 60 percent majority stake of Germany-based vaccine manufacturer IDT Biologika and related utilities provider TEW for KRW 451 billion.

Klocke Gruppe, IDT's parent company, will retain a 40 percent stake in the company and acquire a 1.9 percent stake in SK Bioscience for KRW 76 billion.

SK Bioscience focuses on premium vaccines and, since 2020, has been advancing into the global market through the co-development of South Korea's first COVID-19 vaccine.

Founded in 1921, IDT Biologika is one of the 10 largest vaccine manufacturers globally and offers contract development and manufacturing organization services for vaccines, cell and gene therapies, and biologics with manufacturing sites in Germany and the United States.

S&C advises SK Bioscience with an inter-office team from Hong Kong and Frankfurt that includes: Ambassador Michael George DeSombre, Joon Yoo, William Ma, Claire Park in Hong Kong, York Schnorbus, Silke Jurczyga, Jannis Rink, Katharina Leonhardt, Maximilian Rust, Jan Lukas Werner and Johanna Nagel in Frankfurt and Jin Lee in Melbourne. Juan Rodriguez, Axel Beckmerhagen and Qingyang Song are advising on merger control matters. Peter Klormann and Katharina Leonhardt are advising on German FDI matters. Eric Kadel and Manon Scales are advising on CFIUS and U.S. regulatory matters.