Temasek cuts stake in Celltrion and affiliate for $1b

Singapore’s sovereign wealth fund continues to fine-tune portfolio as it sells a small chunk of its shareholding in South Korea’s Celltrion and Celltrion Healthcare in overnight block deal.

Temasek cuts stake in Celltrion and affiliate for $1b

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...

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