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Genting Biotech Proposes to Acquire All Equity Stakes in Hayssen Biopharma (Singapore) Limited
On March 17, Genting New Era announced that the company has signed a letter of intent with Haisen Biopharmaceutical (Asia) Limited to acquire all equity of its wholly owned subsidiary, Haisen Biopharmaceutical (Singapore) Limited. According to the letter of intent, Genting New Era will pay a refundable deposit of 200 million RMB to Haisen Biopharmaceutical (Asia) Limited. At the same time, Haisen Biopharmaceutical (Asia) Limited will authorize the management of Haisen Biopharmaceutical (Singapore) Limited to allow Genting New Era to conduct due diligence. The two parties have agreed on a six-month exclusive negotiation period to advance the potential acquisition.