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Daehan New Pharm Co., Ltd. completed a contract for LG Corporation’s acquisition of shares in the Galaz Block, an investment project of Daehan New Pharm
2010.12.02
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On December 1, 2010, Roksy Corporation announced through a public disclosure that they had obtained approval from Kazakhstan's antitrust law authorities to transfer a 40% stake in the Galaz Block to LG Corporation, completing the transaction.
The Galaz Block is an investment area in which Daehan New Pharm holds equity. It has already been recognized for its economic viability by a third party and is currently awaiting final government approval from Kazakhstan for pilot production.
With this, the Galaz Block will be primarily developed under the leadership of LG Corporation, a major domestic conglomerate. The plan is to not only continue initial production but to actively explore and develop additional production wells throughout 2021, gradually increasing productive capacity. The project will also benefit from smooth financing, which will accelerate exploration and development activities.
Through this transaction, Galaz Corporation will receive 15.6 million USD as transaction proceeds and is expected to receive an additional 17.5 million USD designated for exploration and development expenses. |


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