IMM Private Equity Calls Off Acquisition of CGBio from Daewoong Pharmaceutical's Owner

IMM Private Equity, one of South Korea's largest private equity firms, has terminated its plan to acquire CGBio Co., a spine and wound-care materials maker owned by Daewoong Pharmaceutical Co. The decision was made after the two parties failed to resolve disagreements over several contract clauses. IMM PE is now reportedly seeking a new acquisition target.