On December 9, Xinhua Pharmaceutical announced that, to improve the group’s industrial and supply chains and promote the high-quality development of the health industry, the company has signed a “Share Acquisition Letter of Intent” with the seller, NovoSana (Europe) B.V. (“NovoSana Europe”). Xinhua Pharmaceutical intends to acquire up to 75% of the shares in NovoSana (Taicang) Biotechnology Co., Ltd. (“NovoSana Taicang”). After the acquisition is completed, Xinhua Pharmaceutical will become the controlling shareholder of NovoSana Taicang. The specific acquisition plan, transaction price, and other details will be determined based on the company’s due diligence, audit, and valuation results, and through negotiations between the parties involved.
NovoSana (Taicang) Biotechnology Co., Ltd. is a subsidiary of the Netherlands’ Alliance Nutrition Group, specializing in the production and trade of omega-3 nutritional oils. It is a refined fish oil raw material supplier for the health product and dairy industries and has grown to become the largest natural structured fish oil refining factory in the Asia-Pacific region. (Source: Securities Times)
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