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PureCircle To Buy Rest Of China Venture For USD1.8 Million (ALLISS)

Fri, 24th Apr 2015 07:47

LONDON (Alliance News) - Stevia ingredients maker PureCircle Ltd on Friday said it has secured a sale and purchase agreement for the acquisition of the remaining stake in PureCircle Jiangxi Co Ltd it does not already own for USD1.8 million.

PureCircle will acquire the 1.38% stake following changes in Chinese regulatory rules which mean it is now allowed to acquire the remaining holding through its Malaysia-based subsidiary PureCircle Sdn Bhd.

PureCircle Jiangxi is principally involved in the manufacturing and sale of crude stevia extract with operations in China, PureCircle said.

It will pay the consideration via the issue of 240,000 shares, which would have a price of 495.83 pence. PureCircle shares were up 1.1% to 492.67p on Friday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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