Novacyt: sale to Taiwan not finalized before 2024

(CercleFinance.com) - Novacyt announced on Thursday that it no longer expects to finalize the sale of its Taiwan laboratory by the end of 2023, as initially planned.


The diagnostics specialist points out that the transaction remains conditional on its subsidiary Yourgene finalizing a pre-closing restructuring to facilitate the transfer of retained people and assets to other group companies, which still needs to be approved by the Taiwanese government.

In addition, the entity must also obtain Taiwanese government approval for the acquisition, as required by law for non-Taiwanese acquirers.

While the restructuring is now complete, the various approvals took much longer than initially expected, explains Novacyt in a press release.

For the record, Yourgene announced last June the sale of its Taiwanese subsidiary Yourgene Health Taiwan to the Singaporean molecular diagnostics group Inex, for up to four million US dollars, i.e. before the completion of its acquisition by Novacyt.

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