Q&M's MOU to buy stake in Chinese dental lab business lapses

Q&M Dental Group said on Monday a memorandum of understanding (MOU) over a business acquisition in China has lapsed.

Q&M had signed a binding MOU in June to buy an equity interest of 47.14 per cent in Shenzhen New Perfect Dental Research Co, which operates a dental laboratory business.

The proposed acquisition had not been completed by Sept 30, 2016, as expected in the MOU.

The company remains in negotiations over the proposed acquisition, Q&M said.