Haohai Biological Tech to Get 80 Million Yuan After Ending Plans to Buy Hengtai Vision

MT Newswires Live

Aug 21

Shanghai Haohai Biological Technology (HKG:6826, SHA:688366) expects to receive 80 million yuan in compensation after agreeing to terminate plans to acquire Shanghai Hengtai Vision Technology, according to a Shanghai bourse filing on Thursday.

The termination came in the wake of Carl Zeiss Vision International's plan to take over 100% of related company Hengtai Optical.

Moreover, Haohai Biological Tech will terminate the agreement to become the exclusive distributor of Hengtai Vision's orthokeratology rigid gas permeable contact lens product in mainland China.

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