CSL completes JV deal, buying majority stake in Chinese co’

Company News

by Jessica Amir

CSL (ASX:CSL) has completed a joint venture transaction to buy a majority stake in a Chinese plasma-derived therapies manufacturer.

The biotech giant’s JV transaction with Humanwell Healthcare, involved CSL buying a holding in Wuhan Zhong Yuan Rui De Biological Products Co Limited (Ruide).

CSL acquired 80 per cent of the equity in Ruide for US$352 million, while Humanwell retained a 20 per cent share.

The company says the deal provides CSL with a strategic presence in the Chinese domestic plasma 'fractionation' market, while it also complements its CSL Behring business.

Shares in CSL (ASX:CSL) are trading 0.24 per cent lower to $127.17
 

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