Australia's CSL Buys 80% Stake in China Blood Products Company for $352 Million
publication date: Jun 13, 2017
Australia's CSL Limited will pay $352 million to acquire an 80% controlling stake in Wuhan Zhong Yuan Rui De Biological Products (Ruide) from China's Humanwell Healthcare Group. For 20 years, CSL has been supplying Ruide with albumin, the plasma that contains red blood cells. CSL also has the right to buy the remaining 20% of Ruide for $120 million in three years. Over time, CSL plans to move directly into the China plasma fractionation market, including plasma collection, with a complete portfolio of products. More details....
Stock Symbols: (ASX: CSL; USOTC: CSLLY) (SHA: 600079)
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