BioSensors: Announced the acquisition of certain assets of Devax (A maker of specialty Stent) for US$5.7m. Purchase consideration would come from existing cash resource and internally generated funds and the acquisition is not expected to have a material impact on grp’s EPS or NTA for FY11 Mar…..
On a separate note, DBSV notes that its Chairman made a princely sum of $174m after his share sales, and quoted chairman’s wish to be ‘Part of Biosensors - without an accompanying financial burden’. Highlight that the divestment does not change grp’s strategy and intent to take a more aggressive position in China. In fact, Hony Capital was chosen by the Chairman for its expertise in the Chinese pharmaceutical sector and ability to beef up grp’s financial muscles.
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