Abu Dhabi's Mubadala is part of a group of investors that took a stake of about 47 per cent in South Korea's Hugel. Courtesy Mubadala
Abu Dhabi's Mubadala is part of a group of investors that took a stake of about 47 per cent in South Korea's Hugel. Courtesy Mubadala
Abu Dhabi's Mubadala is part of a group of investors that took a stake of about 47 per cent in South Korea's Hugel. Courtesy Mubadala
Abu Dhabi's Mubadala is part of a group of investors that took a stake of about 47 per cent in South Korea's Hugel. Courtesy Mubadala

Mubadala joins consortium to take 47% stake in South Korean Botox maker


Sarmad Khan
  • English
  • Arabic

Mubadala Investment Company, Abu Dhabi’s sovereign investment arm, and a group of other investors have bought a 46.9 per cent stake in South Korean Botox maker Hugel.

The consortium led by CBC Group, Asia’s largest healthcare investment company, signed a “definitive agreement” to acquire the stake in Hugel, which has a market capitalisation of $2.5 billion, Mubadala said on Wednesday. The value of the deal was not disclosed.

South Korea's GS Holdings and private equity company IMM Investment, which has more than $4.7bn of assets under management, are also part of the investor group that bought the stake from Bain Capital.

“This opportunity cements Mubadala Life Sciences’ entry into Asia, alongside our colleagues from Mubadala’s China Investment Programme team, who already have an established presence in China and a long-standing relationship with CBC,” said Camilla Macapili Languille, head of Life Sciences at Mubadala.

“We will work closely with our consortium partners and leverage our network to support Hugel’s vision of becoming a leading global medical aesthetics company.”

Mubadala, which has an asset base of Dh894 billion ($243.4bn), invests on behalf of Abu Dhabi's government. The sovereign fund, which is driving the emirate’s efforts to diversify its revenue base, is pivoting more towards investments in health care, life sciences, consumer-focused businesses, renewable energy and the mobility sectors.

In July, Mubadala announced an investment of $250 million in US biosimulation software company Certara as part of its international healthcare and investment portfolio.

In March, the fund agreed to plough £800m into Britain's life sciences industry over the next five years as part of £1bn deal between the UK and the UAE. The UK's Life Sciences Investment Programme that was unveiled last year will contribute £200m to the deal.

Mubadala's investment portfolio spans six continents and it has interests in aerospace, information and communications technology, semiconductors, metals and mining petrochemicals and oil and gas.

It is also consolidating its healthcare portfolio at home, with its healthcare unit, Mubadala Health, acquiring a majority stake in United Eastern Medical Services in June.

Established in 2001, Hugel is one of the global leaders in aesthetic products such as botulinum toxin, commonly known as Botox, and hyaluronic acid fillers. It also develops, manufactures and distributes "cosmeceutical" products, which are cosmetics with medicinal properties.

GS Holding, whose portfolio spans across the energy, retail, construction and service sectors, said it will work with CBC, Mubadala and IMM in “taking Hugel to the next level of growth by combining our respective expertise with the company’s well positioned product offering and competitiveness in the global market".

“Embarking on this partnership underscores our intention to expand our business by diversifying our bio portfolio,” said GS chairman Huh Tae-soo.

The deal also marks the healthcare-focused CBC’s entry into the medical aesthetics sector, as it continues to build its portfolio of pharmaceuticals and develop the biotechnology, medical technology and service sectors.

Morgan Stanley was the consortium’s sole adviser.

UAE currency: the story behind the money in your pockets
How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
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Schedule:

Friday, January 12: Six fourball matches
Saturday, January 13: Six foursome (alternate shot) matches
Sunday, January 14: 12 singles

COMPANY%20PROFILE
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Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.

Pad Man

Dir: R Balki

Starring: Akshay Kumar, Sonam Kapoor, Radhika Apte

Three-and-a-half stars

MATCH INFO

Manchester City 3 (Silva 8' &15, Foden 33')

Birmginahm City 0

Man of the match Bernado Silva (Manchester City)

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

The Lowdown

Kesari

Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra

 

Profile

Company: Libra Project

Based: Masdar City, ADGM, London and Delaware

Launch year: 2017

Size: A team of 12 with six employed full-time

Sector: Renewable energy

Funding: $500,000 in Series A funding from family and friends in 2018. A Series B round looking to raise $1.5m is now live.

FIXTURES

December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm

December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm

December 30
3rd/4th place play-off, 5pm
Final, 7pm

The specs

Engine: 1.5-litre 4-cylinder petrol

Power: 154bhp

Torque: 250Nm

Transmission: 7-speed automatic with 8-speed sports option 

Price: From Dh79,600

On sale: Now

'Lost in Space'

Creators: Matt Sazama, Burk Sharpless, Irwin Allen

Stars: Molly Parker, Toby Stephens, Maxwell Jenkins

Rating: 4/5

WHAT IS A BLACK HOLE?

1. Black holes are objects whose gravity is so strong not even light can escape their pull

2. They can be created when massive stars collapse under their own weight

3. Large black holes can also be formed when smaller ones collide and merge

4. The biggest black holes lurk at the centre of many galaxies, including our own

5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

UAE currency: the story behind the money in your pockets
Company Profile:

Name: The Protein Bakeshop

Date of start: 2013

Founders: Rashi Chowdhary and Saad Umerani

Based: Dubai

Size, number of employees: 12

Funding/investors:  $400,000 (2018) 

LIVING IN...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Bridgerton%20season%20three%20-%20part%20one
%3Cp%3E%3Cstrong%3EDirectors%3A%20%3C%2Fstrong%3EVarious%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Nicola%20Coughlan%2C%20Luke%20Newton%2C%20Jonathan%20Bailey%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Herc's Adventures

Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
UFC Fight Night 2

1am – Early prelims

2am – Prelims

4am-7am – Main card

7:30am-9am – press cons

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

How to improve Arabic reading in early years

One 45-minute class per week in Standard Arabic is not sufficient

The goal should be for grade 1 and 2 students to become fluent readers

Subjects like technology, social studies, science can be taught in later grades

Grade 1 curricula should include oral instruction in Standard Arabic

First graders must regularly practice individual letters and combinations

Time should be slotted in class to read longer passages in early grades

Improve the appearance of textbooks

Revision of curriculum should be undertaken as per research findings

Conjugations of most common verb forms should be taught

Systematic learning of Standard Arabic grammar

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Saturday's schedule at the Abu Dhabi Grand Prix

GP3 race, 12:30pm

Formula 1 final practice, 2pm

Formula 1 qualifying, 5pm

Formula 2 race, 6:40pm

Performance: Sam Smith

The biog

Hometown: Cairo

Age: 37

Favourite TV series: The Handmaid’s Tale, Black Mirror

Favourite anime series: Death Note, One Piece and Hellsing

Favourite book: Designing Brand Identity, Fifth Edition

Updated: August 25, 2021, 4:44 PM`