CONTAMAC HOLDINGS LTD / SHANGHAI HAOHAI BIOLOGICAL TECHNOLOGY CO LTD / Acquisition / Private / £24m

Shanghai Haohai Biological Technology Co.,. (SEHK:6826) entered into a share purchase agreement to acquire 70% stake in Contamac Holdings from Simon David Wyatt, Robert John McGregor, Robert Edward Lewis and John Alexander McGregor for £24.5 million in cash on April 13, 2017. Under the terms of the transaction, the consideration will be paid as, £15 million upon closing and £9.5 million as earn-out payment.