M&As this week: Zhejiang Conba Pharmaceutical, Biolennia Laboratories

23 February 2017 (Last Updated February 23rd, 2017 18:30)

Zhejiang Conba Pharmaceutical has sold 57.3% stake in a pharmaceutical company for ¥345.1m ($50.27m).

Zhejiang Conba Pharmaceutical has sold 57.3% stake in a pharmaceutical company for ¥345.1m ($50.27m).

Based in China, the Zhejiang Conba is a subsidiary of Conba Group.

"Canadian oil and gas exploration and production company Vinergy Resources intends to acquire 65% stake in Biolennia Laboratories."

Canadian oil and gas exploration and production company Vinergy Resources intends to acquire 65% stake in Biolennia Laboratories.

Also based in Canada, the target company provides drug testing services.

Vinergy Resources will pay C$0.26m ($0.2m) in addition to 150,000 shares of its common stock upon signing a definitive agreement for the acquisition.

The acquisition is expected to be completed in the first quarter of this year.