BTBP plans to abandon the acquisition of PLBIO business opportunity
BTBP announced the abandonment of the acquisition opportunity for PLBIO, as the blood product business involved in the transaction poses a competitive conflict with its main business. The controlling shareholder China National Biological has formally notified BTBP in writing about this business opportunity based on the commitment letter to avoid competition. In the future, China National Biological will implement the acquisition of PLBIO from the perspective of overall development strategy and will make further commitments regarding the issue of competition after completion
According to the Zhitong Finance APP, Tiantan Biological (600161.SH) announced that it recently received a notification letter from its controlling shareholder China National Pharmaceutical Group regarding investment business opportunities. The transaction target is the 21.03% stake held by the controlling shareholder of PLBIO, Shengbang Yinghao (referred to as "business opportunity"). Since PLBIO's main business involves the research, development, production, and sales of blood products, which constitutes a competitive relationship with the company's main business, China National Pharmaceutical Group has formally notified the company in writing of the new business opportunity that constitutes substantial competition with the company's main business, based on the "Commitment Letter to Avoid Competition with Beijing Tiantan Biological Products Co., Ltd." issued on December 1, 2017 (referred to as the "Previous Commitment Letter to Avoid Competition").
After careful analysis and assessment, the company intends to abandon the acquisition of the PLBIO business opportunity. After the company abandons the acquisition of the PLBIO business opportunity, China National Pharmaceutical Group will implement the acquisition of the PLBIO business opportunity from the perspective of overall development strategy. After completing this acquisition, China National Pharmaceutical Group will make further commitments regarding the resolution timeline and basic path of the newly added competition issue. The company will fulfill its information disclosure obligations in a timely manner upon receiving the relevant commitment documents. China National Pharmaceutical Group has timely informed the company in writing about the business opportunity according to the Previous Commitment Letter to Avoid Competition and has fulfilled its obligations under the commitment letter, with no violations of the commitment
