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On 20 March,
2014, North China Pharmaceutical Co., Ltd. (North China Pharmaceutical) made an
announcement that it has signed a share transfer agreement with Maui
Bio-technology Development Company Limited (Maui Bio-technology) and Maui (BVI)
Investment Limited (Maui Investment). According to the agreement, North China
Pharmaceutical will acquire 25% stake of NCPC GeneTech Biotechnology
Development Co., Ltd. (GeneTech) with about USD9.0 million (RMB55.2 million),
which was held by Maui Bio-technology; and will acquire 49% stake of North
China Pharmaceutical Group Aino Co., Ltd. (NCPC Aino) with about USD10.0
million (RMB61.8 million), which was held by Maui Investment. After
acquisition, GeneTech will become a wholly-owned subsidiary of North China
Pharmaceutical, which is conducive to profit growth of North China
Pharmaceutical's biopharmaceutical business. Moreover, the acquisition of
NCPC Aino is beneficial for the development of North China
Pharmaceutical's biopesticide business.
North China Pharmaceutical is one of the main
manufacturers of vitamin C(VC) active pharmaceutical ingredient.
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Latest update:2014/04/01 Data year:2014
Keyword:North China Pharmaceutical Co.; Ltd.; Company dynamics; Finance
Published by CCM
Quoted in:Corn Products China News 1404
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