Axa-owned Novacap chemicals group makes China acquisition
AXA Private Equity-backed French chemicals group Novacap, is to acquire a majority stake in Taixing Yangzi Pharm Chemical (Yangzi), one of the leading Chinese producers of a chemical mainly used for the production of paracetamol. Financial terms of the transaction were not disclosed.
Yangzi is located in Taixing Economic Development Zone in Shanghai, and specializes in producing chemical intermediates for medicine. In 2011, Yangzi upgraded to a catalytic hydrogenation manufacturing...
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