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Royal DSM inks JV deal with NCPC GroupPublished: 20 Mar 2009 00:48:22 PST
Mar. 20, 2009 (China Knowledge) - Royal DSM NV (DSM), a Dutch vitamins and chemicals group, North China Pharmaceutical Group Corp (NCPC Group) and the group's listed unit North China Pharmaceutical Co Ltd (NCPC)<600812> yesterday signed a cooperation agreement in Shijiazhuang, the capital city of China's Hebei Province.
According to agreement, DSM will invest around RMB 827 million to acquire a 9.77% share of NCPC Group and to set up three JVs with NCPC to produce nutrition products and anti-infectives. DSM will hold 30%, 51% and 51% stakes in new the JVs.
The cooperation will help NCPC restructure its product offerings and improve the its production technology.
The deal was passed at NCPC's shareholder meeting but must still apply to the National Development and Reform Commission (NDRC), the Ministry of Commerce (MOC) and the related regulators in China for final approval.
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