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Article: SemBioSys provides an update on Botaneco.
- Article from:
- Biotech Week
- Article date:
- November 4, 2009
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SemBioSys Genetics Inc. ("SemBioSys") (TSX:SBS) announced that Advitech Inc. ("Advitech") has entered into a definitive agreement to acquire all of the issued and outstanding shares of Botaneco Specialty Ingredients Inc. ("Botaneco") held by SemBioSys and Avrio Ventures Limited Partnership ("Avrio"). SemBioSys will hold an initial 9.48 percent shareholding in Advitech, in return for the 19.35 percent share of Botaneco it currently holds, prior to Advitech's concurrent financing on the terms described below. The transaction is expected to close on or around November 7, 2009 pending relevant approvals. Prior to, or concurrent, with the completion of the transaction Advitech ...