Huapont Life Sciences Co. (002004.SZ) announced on Tuesday that its wholly subsidiary planned to acquire 70 percent stakes in Swiss Biological Medicine Group Ltd. at no more than 210 million yuan. Upon completion, Huapont will become the controlling shareholder of the latter. Huapont, listed on the Small and Medium-sized Enterprise Board (SME) of the Shenzhen Stock Exchange, has its business scope in medicine manufacturing, medical care, agrochemical and tourism and makes investment in major cities of China, and America, Brazil and Argentina.
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