By Fineline Cube 
GenScript Biotech Corporation (HKG: 1548) is set to acquire an additional 300 million Class A preferred stocks in Probio Cayman, its Contract Development and Manufacturing Organization (CDMO) unit. The transaction, valued at USD 225.1 million (HKD 1.7 billion), will increase GenScript’s ownership in Probio Cayman from 71.72% to 85.09% upon completion.
Transaction Details
The stocks will be purchased from MSUM VII Holdings Limited and HSUM XIV Holdings Limited, both based in Hong Kong and managed by Hillhouse Investment Management Limited. This acquisition is aimed at further strengthening GenScript’s control over its CDMO operations and enhancing its strategic position in the biotech sector.-Fineline Info & Tech