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Viscofan Reaches Preliminary Agreement To Buy Majority Stake In Shandong Haiaos Biotechnology

By Reuters News

Nov 5 (Reuters) - Viscofan SA VIS.MC:

  • REACHES PRELIMINARY AGREEMENT TO BUY MAJORITY STAKE IN SHANDONG HAIAOS BIOTECHNOLOGY

  • TO BUY UP TO 85% OF HAIAOS SHARE CAPITAL

  • DEAL BASED ON 100% ENTERPRISE VALUE OF 1,000 MILLION RMB (€133 MILLION), ADJUSTED FOR NET DEBT AND WORKING CAPITAL

  • FOUNDING SHAREHOLDERS WILL TEMPORARILY RETAIN A 15% STAKE

  • COMPLETION OF TRANSACTION SUBJECT TO VISCOFAN REACHING A MINIMUM THRESHOLD OF 80% OF HAIAOS’ SHARE CAPITAL

Further company coverage: VIS.MC

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