CSL to acquire majority stake in Chinese plasma fractionator
Australia’s CSL Limited (ASX:CSL) saw its share close up 1.9% at A$137.65 today, after the company announced it has agreed to acquire an 80% equity stake of plasma-derived therapies manufacturer Wuhan Zhong Yuan Rui De Biological Products (Ruide).
The current owner of Ruide, Humanwell Healthcare Group (SE: 600079), will receive $352 million under the terms of the deal, which is expected to close in the second half of this year and also provides for CSL to increase its stake above the initial 80%.
The transaction will provide CSL with a strategic presence in the Chinese domestic plasma fractionation market and complements the leadership position that its CSL Behring business has built over the past 20 years as a provider of imported albumin in China.
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