Daily Briefing: Q&M Dental Group sells 36% stake in China-based associate for $49m; NEU at Novena condo opens for preview

And UK-based startup Upgrade Pack expands to Singapore.

From DealStreetAsia:

Q&M Dental Group is selling 36% stake in its China-based associate company Aidite (Qinhuangdao) Technology for $49m, according to a stock exchange announcement.

The Aidite Technology stake is being acquired by China-based Suzhou Junlian Xinkang Venture Capital Partnership, and three Hong Kong-based firms, namely, Health Advance Limited, Schroder Adveq Asia Hong Kong I and ASP Hero SPV

Q&M Dental Group will use part of the proceeds for working capital and business expansion needs.

Following the deal completion, Q&M Dental Group will retain 12.3% stake of Aidite Technology through its subsidiary Q&M Aidite International (QMAI). Currently, the company owns 48.2 per cent in Aidite Technology.

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