date:Jan 03, 2014
Biostime International, a China-based manufacturer of pediatric nutritional and baby care products, is set to acquire 100% stake in Changsha Yingke Nutrition Products, an infant formula producer for CNY350m ($57.2m).
As per the equity transfer agreement, BiosTime and Biostime Health Products, the subsidiaries of Biostime International, will acquire the equity interest in Changsha Yingke from Hunan AVA Dairy and Hunan Changsha AVA Dairy.
Following the acquisition, the company will boost its pro