Orientbio, Inc. cancelled the acquisition of an additional 7.19% stake in Orient Precision Industries Inc.
November 21, 2012 at 09:30 am IST
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Orientbio, Inc. (KOSE: A002630) agreed to acquire an additional 7.19% stake in Orient Precision Industries Inc. for KRW 6.2 billion on November 21, 2011. Orientbio, Inc. will have 14.47% stake in Orient Precision Industries. The Board of Directors of Orientbio, Inc. passed the resolution on November 21, 2011. The deal is expected to close on December 6, 2011. On December 8, 2011, it was announced that the deal is expected to close on December 9, 2011.
Orientbio, Inc. (KOSE:A002630) cancelled the acquisition of an additional 7.19% stake in Orient Precision Industries Inc. on November 21, 2012.
ORIENT BIO Inc. is a Korea-based company engaged in the biotechnology area. The Company produces and supplies laboratory animals, including mice, rats, guinea pigs, hamsters, specific pathogen free (SPF) rabbits, beagles and others. It also provides contract research organization (CRO) services, including CRO safety assessment and CRO new drug development services; medical and library equipment, such as barrier systems, and support services such as rodent surgery services, laboratory diagnostics services, transgenic services, genetic testing services and other services. In addition, along with its subsidiaries, the Company provides feeds, reagents, disinfectants, automobile components, power supply equipment, and other machines.
ORIENT BIO INC. 
