Genus completes formation of Chinese porcine joint venture
Genus PLC on Monday said it has successfully formed its Chinese porcine joint venture, seeing the move as the ‘the best platform’ to drive growth at PIC China.
Back in September, the Basingstoke, England-based animal biotechnology and genetics company said the joint venture with its domestic-state backed partner Beijing Capital Agribusiness Co Ltd would be 51% owned by BCA and 49% owned by Genus.
Genus said it will receive a gross cash payment of $160 million, with this in addition to a gross milestone payment of $7.5 million recognised in the first half of its financial year.
Genus explained that going forward, PIC China will be reconsolidated from its accounts, owing to the company’s 49% joint venture ownership.
Shares in Genus were down 4.8% at 3,010.00 pence on Monday afternoon in London.
‘Management will discuss the pro-forma implication of the joint venture formation during the Group’s scheduled interim results announcement on 26 February 2026,’ said Genus.
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