Brief: Biohit: Ownership arrangement in Chinese JV, 2017 operating result to be positive
02/01/2017 07:30
Jan 2 (Reuters) - Biohit Oyj BIOBV.HE :
* Signs ownership agreement with Anhui Wisdom-Win Investment Co. regarding Chinese joint
venture (JV), Biohit Healthcare (Hefei) Co. Ltd
* Agreement regards reduction of JV share capital for amount equal to Biohit Oyj's
shareholding of 40 pct
* Estimates its operating result to turn clearly positive for 2017
* Has signed license and distribution agreement with Biohit Healthcare (Hefei) Co. Ltd
* Biohit Healthcare (Hefei) Co. Ltd receives rights to manufacture and sell GastroPanel
product in China, Macao and Hongkong and use Biohit Oyj's trademarks
* In consideration for rights, Biohit Oyj receives royalty calculated from GastroPanel
product net sales of Biohit Healthcare (Hefei) Co. Ltd throughout duration of agreement
* License and distribution agreement remains in force for at least 15 years
Source text for Eikon: ID:nHSU6HY2
Further company coverage: BIOBV.HE
(Gdynia Newsroom)
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