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Sinovac Biotech to acquire 15% stake in Sinovac (Dalian) Vaccine Technology from Dalian Jin Gang

Posted on: Thu, 26 Nov 2009 13:15:00 EST

Symbols: SVA

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Nov 26, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
SVA | Quote | Chart | News | PowerRating -- Sinovac Biotech, Ltd., a biotechnology company, has agreed to acquire an additional 15% stake in Sinovac (Dalian) Vaccine Technology Co., Ltd. from Dalian Jin Gang Group Co., Ltd., a manufacturer of fine chemicals, for a cash consideration of CNY50 million ($7.33 million). All the companies are based in China.

Sinovac (Dalian) is a 30:70 joint venture between Sinovac Biotech and Dalian Jin Gang. The transaction is expected to complete on or before December 31, 2010.

Deal Value (US$ Million) 7.33
Deal Type                Acquisition
Sub-Category             Minority Acquisition
Deal Status              Announced: 2009-11-25

Deal Participants

Target (Company)   Sinovac (Dalian) Vaccine Technology Co., Ltd.
Acquirer (Company) Sinovac Biotech, Ltd.
Vendor (Company)   Dalian Jin Gang Group Co., Ltd.

% Acquisition 15%

For full details on Sinovac Biotech Ltd (SVA) SVA. Sinovac Biotech Ltd (SVA) has Short Term PowerRatings at TradingMarkets. Details on Sinovac Biotech Ltd (SVA) Short Term PowerRatings is available at This Link.

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