Vland Biotech to Buy Remaining Stake in Joint Venture With Archer Daniels Midland for 47 Million Yuan

MT Newswires Live

02/11

Qingdao Vland Biotech (SHA:603739), through subsidiary Qingdao Blue Ocean Biotechnology Group, agreed to acquire the 50% equity it does not own yet in ADM-Vland Biotechnology (Shandong) for 47 million yuan, according to a Shangahi bourse filing on Wednesday.

ADM-Vland is a joint venture between the Chinese biotechnology company and Archer Daniels Midland Singapore.

ADM-Vland will become a fully-owned subsidiary of Vland Biotech.

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