Telecon acquires Vivozon in $22.6 million deal

[DISCLOSURE] Telcon (200230) said on July 4 that it has decided to acquire 1,989,174 shares, or 31.8 percent, in Vivozon, a Korean drug developer, for 26.1 billion won (US$22.6 million) to diversify its business portfolio.

For the acquisition, Telcon will raise 8.9 billion won of third-party capital and issue convertible bonds worth 13.5 billion won.