Blackstone Taps Morgan Stanley for $2 Billion Geo-Young Sale (1)

Blackstone Inc. has hired Morgan Stanley to help prepare a sale of South Korean pharmaceuticals distributor Geo-Young amid interest from potential buyers, people with knowledge of the matter said.

The private equity firm may seek a valuation of more than $2 billion for Geo-Young, according to the people, who asked not to be identified discussing confidential information. Other buyout firms, as well as strategic suitors, have expressed preliminary interest in acquiring the asset, they said.

Any transaction would add to the $30.3 billion in deals targeting South Korea this year, according to data compiled by Bloomberg. While a formal sale ...