China’s Huapont-Nutrichem To Buy Stake In Albaugh For $220 Million
Huapont-Nutrichem Co. Ltd., a fast-growing Chinese pharmaceutical and agrochemical manufacturer, said it will buy a minority stake in Albaugh, the privately held off-patent crop protection giant.
Huapont, through Nutrichem USA, will acquire 20% of the voting and non-voting units of Albaugh for $220 million cash. The acquisition is expected to close before year-end, and is subject to approval of Huapont’s shareholders, approval of the China National Development and Reform Commission and U.S. regulatory authorities.