Jiangxi Boya Bio-Pharma to Buy Majority Stake in Haikang Biological

by Richard Daverman, PhD

December 12, 2012 -- Jiangxi Boya Bio-Pharmaceutical will pay up to 115.6 million RMB ($18.5 million) to purchase a 68% stake in Zhejiang Haikang Biologicals. Both companies are involved in blood products and plasma collection. The deal was structured to include earn-out provisions over the next three years and will allow Boya to increase its ownership of Haikang if specific conditions are met. Boya bought the 68% stake from a third party. More details....

Stock Symbol: (SHA: 300294)