Dec. 21, 2015
KHB Shanghai Kehua Bio-Engineering Co. announced the closure of a deal with Italian Technogenetics finalizing the acquisition of Technogenetics’ IVD Assets.
Under the terms of the agreement KHB has acquired 100% of Technogenetics with an investment of 28.8 million Euro, 18.8 million Euro used for the acquisition and the rest for the business development of the joint venture in the following 18 months.
Once the acquisition is finalized, KHB will form a joint venture with Altergon Italia, which will contribute its IVD's spin-off to the joint venture, including its R&D premises in South Italy and China. KHB will hold 80% and Altergon the remaining 20% of the share capital of the joint venture.