China Biologic to up equity stake in Guizhou Taibang
Plasma-based biopharma firm China Biologic Products (Nasdaq: CBPO) says that its wholly-owned subsidiary Guiyang Dalin Biotechnology had agreed to acquire an additional 19.84% equity interest in Guizhou Taibang Biological Products from Guizhou Eakan Pharmaceutical, an existing minority shareholder of Guizhou Taibang.
The total consideration of the transaction will be 535 million renminbi ($87.1 million). On completion of the transaction, China Biologic will increase its controlling stake in Guizhou Taibang from 56.39% to 76.23%.
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