Bio-Bridge gain Chinese approval for acquisition of Xinheng
USA-based Bio-Bridge Science has received a certificate of approval for the acquisition of Xinheng Baide Biotechnology (Marketletter May 12) from the Department of Commerce of the Inner Mongolia Autonomous Region, China. The firm has one month to close the transaction, and obtain the new business license.
Liang Qiao, chief executive of Bio-Bridge said: "we are happy to see the Inner Mongolia government has approved our acquisition of Xinheng Baide. The completion of the acquisition of [the firm] will be a significant first step of our acquisition strategy. We believe Xinheng Baide will provide revenues and complementary products to Bio-Bridge."
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