Genus acquires 51% stake in Vitro Brasil

1st Apr 2015 08:01

Animal genetics group Genus has completed the acquisition of a 51% stake in biotechnology firm Vitro Brasil for an undisclosed amount.The FTSE 250 group did not disclose financial details of the deal, which was originally agreed on 16 February, but it stated that the Brazil-based company was an "excellent strategic fit" within Genus' strategy."Vitro is expected to strengthen Genus's global leadership in the development and delivery of differentiated genetics in the beef and dairy sectors through the introduction of IVF technology," the company said in a statement on Wednesday.Genus shares were up 0.95% to 1,382.00p at 08:21 on Wednesday.

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