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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.