Aussie govt ap­proves pharma takeover

China Daily (USA) - - BUSINESS -

Aus­tralia’s For­eign In­vest­ment Re­view Board on Mon­day ap­proved a Chi­nese takeover of phar­ma­ceu­ti­cal group Vi­taco, in a deal set to be worth more than $235 mil­lion. Fol­low­ing the an­nounce­ment of the planned sale in Au­gust this year, the Chi­nese bid lodged by Shang­hai Pharma and Pri­mav­era Cap­i­tal was ap­proved by the govern­ment on Mon­day fol­low­ing ap­proval from Chi­nese reg­u­la­tors ear­lier this year.

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