Royal DSM N.V. intends to participate in North China Pharmaceutical Group Corporation
According to the agreement signed between NCPC and DSM on November 22, 2004, DSM intends to contribute USD 25 million, which equals to RMB 206,602,500 at the exchange rate of USD 1 to RMB 8.2641 on November 11, 2004, to acquire 58,197,887 state-owned shares of NCPC Ltd. held by NCPC at the price of RMB 3.55/share.
Definitive agreements, detailing the various transactions, have yet to be worked out and such agreements will require the approvals of several internal and external parties. DSM believes that the yet unknown time schedule of the regulatory approvals for all of the anticipated arrangements will determine the schedule for completing the planned transactions.
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