Q&M to acquire stake in dental laboratory in China
Q&M Dental Group has entered a binding memorandum of understanding to acquire a 47.14 per cent stake in Shenzhen New Perfect Dental Research (SZNP) for 66 million yuan (about S$13.8 million). This translates into an effective interest of 33 per cent in the dental laboratory business that is carried out by 15 subsidiaries of SZNP.
SZNP is a company incorporated in China and is a dental prosthetic device provider with a focus on providing custom-made prostheses to dental patients.
Q&M Dental Group noted that the proposed acquisition is in line with its expansion into dental related industries and China, and that synergy is achieved between the company's main dental services business and the proposed acquisition to provide dental laboratory services.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
American Express beats profit estimates on strong spending by wealthy customers
Sheng Siong shareholders press for details on capital allocation, M&A opportunities
Wilmar appoints former minister George Yeo as independent non-executive director
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration
Deutsche Bank has cut dozens in Asia private banking overhaul
Middle East violence heightens market fears of rate hikes, inflation