Entities backed by Singapore's Temasek and Chinese investment firm HighLight Capital agreed to a deal worth 1.06 billion yuan ($148.7 million) for stakes in a unit of VIVA Biotech Holdings , the pharmaceutical service company said late on Sunday.
Temasek logo is seen in this illustration taken November 30, 2022. REUTERS/Dado Ruvic/Illustration
VIVA Biotech said it will use the net proceeds to redeem convertible bonds in a bid "to settle its outstanding liabilities without occupying its internal resources." Daxue Investments, a unit of Temasek Holdings, and True Light P, a private firm held by Temasek-owned True Light Capital GP Pte. Ltd, will altogether hold 17.55% stake in VIVA Shanghai after the deal, according the filing.
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