Saturday | 10 January, 2009
GroPep finally closes Biotech Australia chapter
GroPep (ASX:GRO) has closed the book on its acquisition of Biotech Australia with the receipt of AUD$3.6 million final payment for the Roseville site.
CFO Tony Mitchell said the terms of last year's $10.1 million sale to property developers Macquarie Real Estate Equity Fund No 1 and an investment company of Denham Construction were set at about two-thirds payable up front with the remainder payable now.
He said that GroPep had effectively exited from the Biotech Australia acquisition, retaining some equipment and one project from the company.
At the time of writing, GroPep's share price had risen 14 per cent to $0.80.
Additional Resources
Newsletter Subscription
Australian Life Scientist Member Login
Fujitsu Introduces First Netbook Series – Fujitsu M1010, the Comprehensive Solution for Work and Play. 2008-12-15 16:30:00+11
Kingston Technology Boosts DataTraveler 150 Capacity to 64GB 2008-12-09 15:30:00+11
IDC Says Asia/Pacific Excluding Japan IT Market Will Remain The Bright Spot... 2008-12-04 15:04:00+11
AOC Launches 18.5” Widescreen Green 16:9 LCD Monitor in Australia and New Zealand 2008-12-03 15:30:00+11
NComputing Appoints Country Manager for Australia, New Zealand, and South Pacific Islands 2008-12-03 00:43:00+11
Sponsored Links
Subscribe to Australian Life Scientist
Australian Life Scientist is Australia's leading magazine for the life sciences sector.
