DSM To Lower Its Stake In Huabei Pharmaceutical Group
This article was originally published in PharmAsia News
Executive Summary
DSM and Huabei Pharmaceutical Group recently made substantial progress in its strategic collaboration (PharmAsia News, Jan. 12, 2009). However, an informed source discloses that DSM's stake in the Huabei company will be lower than the previously determined 25 percent as a higher share proportion will not likely get approval from the State-owned Assets Supervision and Administration Commission of Hebei Province. The parties have revised the agreement and submitted the application to the relevant authorities. The collaboration will be announced after the lunar new year, starting with raw drug materials business, namely antibiotics and vitamins. At the same time, Huabei Pharmaceutical Group is seeking its second strategic investor and candidates include state-owned ChemChina. (Click here for more - Chinese Language)
|
DSM and Huabei Pharmaceutical Group recently made substantial progress in its strategic collaboration (PharmAsia News, Jan. 12, 2009). However, an informed source discloses that DSM's stake in the Huabei company will be lower than the previously determined 25 percent as a higher share proportion will not likely get approval from the State-owned Assets Supervision and Administration Commission of Hebei Province. The parties have revised the agreement and submitted the application to the relevant authorities. The collaboration will be announced after the lunar new year, starting with raw drug materials business, namely antibiotics and vitamins. At the same time, Huabei Pharmaceutical Group is seeking its second strategic investor and candidates include state-owned ChemChina. (Click here for more - Chinese Language) "DSM To Take Under 25 Percent Stake In Huabei Pharmaceutical Group, Second Partner Suspected To Be ChemChina" - hc360.com (1/19/09) |