Star Bio-Tech to seek partner for mainland healthy food business

Star Bio-Tech Holdings (1051) chairman Wong Kam Fu Nelson said that three investors had the intention to enter the interest of the company, including a HK-listed company, a mainland pharmaceutical plant and a funds representative. The deal involved HK$150-200 mln is in talks now with no details available. Besides, the company was also in talks on the acquisition of a mainland pharmaceutical plant but the pace is slowed down due to the worsening financing situations in the market. Wong said that the company is seeking a partner for the healthy food business and is in discussion with two Hong Kong banks on the development of technology business. The company has HK$20 mln cash in hand.

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