JP Morgan Invests $42.0 Million in Ceratech
JP Morgan Partners Asia announced that it has agreed to invest $42.0 million in Ceratech Corp. (Korea), thereby becoming a joint-venture partner with the company’s founding management. JP Morgan will buy the stake in Ceratech from its non-executive, single-largest shareholder. The company’s founding management holds another 33.2 percent in the firm and will reduce it to 27.4 percent to equalize shareholdings with JP Morgan. Both will share control of the board.
“Our alliance with JP Morgan Partners Asia provides us with increased financial flexibility to continue to expand our business and to build upon our global market-share position,” said Simon Oh, president of Ceratech.