Blackstone Group acquired a 46% stake in Geo-Young from Anchor Partners for $945m.

Private equity firm Blackstone Group acquired a 46% stake in Geo-Young, a South Korean wholesale drug distributor, from Anchor Partners for $945m. Geo-Young founder and Chief Executive Cho Sun-hae would remain as a shareholder and retain her leadership role. The transaction is expected to close in the second quarter of 2019, subject to regulatory approvals.