Origin Agritech Limited Sells Minority Stake in Biocentury
June 2, 2010
Business Wire reports that Origin Agritech Limited, a supplier of hybrid and genetically-modified crop seeds in China, announced it has divested its minority 34-percet ownership in Biocentury Transgene, a cotton seed producer in southern China, to an existing private investor in Biocentury Transgene for RMB 60M. This move is in consideration of Origin’s corporate strategy to maximize its portfolio and focus on markets and segments where synergies can be fully realized. The divestment will incur capital gains but have no significant effect on revenues and earnings 2010.