Matrix to buyout China's Mchem Group
Matrix Laboratories Ltd to acquire residual stake in China-based Mchem Group of Companies.
By PTI |
MUMBAI: Matrix Laboratories Ltd on Friday said it will acquire the residual stake in China-based Mchem Group of Companies from its promoter.
The company said in a filing to the Bombay Stock Exchange that it has entered into a definitive agreements for acquiring the residual holding of Mark Gao, the erstwhile promoter of Mchem Group.
The company had earlier acquired 60 per cent equity in MChem Group as a part of its backward integration strategy to secure the supply chain for intermediates, it said.
The acquisition would be subject to various approvals that are required to be obtained.
The company said in a filing to the Bombay Stock Exchange that it has entered into a definitive agreements for acquiring the residual holding of Mark Gao, the erstwhile promoter of Mchem Group.
The company had earlier acquired 60 per cent equity in MChem Group as a part of its backward integration strategy to secure the supply chain for intermediates, it said.
The acquisition would be subject to various approvals that are required to be obtained.
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