Don Agro Subsidiary to Acquire Oncology Clinics in Russia; Shares Plunge 19%

MT Newswires09-12

Don Agro International's (SGX:GRQ) wholly owned subsidiary, JSC Tetra, entered into agreements for the acquisition of a majority stake in 812 Capital and a minority stake in the Centre for Innovative Medical Technologies (CIMT), according to a filing with the Singapore Exchange on Thursday.

The company entered into an agreement with Khvicha Akubardia and Aleksander Sviridov for the acquisition of a 99.99% stake in 812 Capital and the acquisition of an 11.50% stake in CIMT.

The aggregate consideration payable is 3.04 Russian rubles.

812 Capital is a federal network of oncology clinics and the acquisition will provide Don Agro recurrent business activities to meet requirements for a new listing.

Shares of the company slumped nearly 20% in recent trading.

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