• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Sept. 26

In its first overseas acquisition, gelatin-maker Sterling Biotech Ltd is set to acquire China Gelatin Ltd, a gelatin manufacturing facility in China. No financial details were available. The company has been acquiring production facilities in the domestic market including Torrent Gujarat Biotech's manufacturing plant in Gujarat for Rs 55 crore in an all-cash deal last year. The acquisition of the China facility is in line with Sterling Biotech's philosophy of focusing on the growth market globally, the company told the Bombay Stock Exchange. It would also help the company tap into other East Asian markets, it added. China is amongst major consumers of gelatin globally. The transaction will be an all-cash deal and will be completed upon receipt of all necessary government approvals relevant to both companies, the announcement said. Sterling Biotech shares were up 16.09 per cent on the BSE at Rs 127.35.

More Stories on : Mergers & Acquisitions | Pharmaceuticals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Hyundai to finalise R&D centre plan in two months

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line