Matrix to acquire residual holding in China''s Mchem group
25 Aug 2007
Mumbai:
Matrix Laboratories Ltd has executed definitive agreements
to acquire the residual holding of Mark Gao, the erstwhile
promoter of Mchem group of companies of China. 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.
This
acquisition would be subject to various approvals that
are required to be obtained, the company said in a filing
with the Bombay Stock Exchange (BSE).
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