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The latest announcement is out from Stemcell United Ltd. ( (AU:BP8) ).
BPH Global has agreed to sell its China-based bird’s nest business, operated through Foshan Gedi Shi Biotechnology Co., Ltd., to two existing employees and directors of the unit. The deal follows a strategic review that found the Foshan operation, which has a negative net asset position, no longer aligned with the group’s focus on seaweed.
Under the agreement, BPH’s subsidiary SCU (HK) Limited will transfer 100% of FoshanCo’s equity for no cash consideration and pay a one-off USD 20,200 settlement to extinguish historical claims. The board says the divestment removes a non-core legacy business, simplifies the corporate structure, and allows management to concentrate fully on expanding Indonesia-based seaweed sales and advancing seaweed R&D initiatives.
More about Stemcell United Ltd.
BPH Global Ltd (ASX: BP8) is a commercial seaweed supply and export company focused on Indonesia-based seaweed sales and related R&D activities. The group has been simplifying its operations to concentrate on its core seaweed business, moving away from legacy operations that no longer fit its strategic direction.
Current Market Cap: A$4.71M
See more data about BP8 stock on TipRanks’ Stock Analysis page.