Kaisa Group Holdings has entered an agreement to purchase 18.57% stake in Zhenxing Biopharmaceutical & Chemical.
Based in China, the acquirer company is involved in property investment, development, and management businesses. It aims to expand its footprint in the healthcare industry through the acquisition.
The purchase consideration for the acquisition is agreed to be $331.65m.
Zhongyuan Union Cell & Gene Engineering, formerly Zhongyuan Union Stem Cell Bioengineering, plans to divest 67% share in a pharmaceutical tech company headquartered in Zhejiang.
The divestment is expected to generate CNY60m ($9.1m) in proceeds for Zhongyuan.
Zhongyuan Union Stem Cell Bioengineering is a biotechnology company based in China.