BioAmber Inc fka BIOAQ

[WillieSteelGeez]

LCY Biotechnology purchases BioAmber Sarnia plant.

PricewaterhouseCoopers, the court-appointed monitor for proceedings under the Companies Creditors’ Arrangement Act, said in a news release the sale to LCY Biotechnology has been now been approved by courts in Canada and the U.S.

The monitor said previously that the sale provided a potential opportunity for the plant to resume operations.

They’re looking at other high-value products in that same grouping of chemicals.

Visolis has expressed an interest in resuming production of succinic acid at the site, which would provide employment and further investment in the Sarnia region..

In a recent report to the court, the monitor said the transaction was reached following “two robust sale processes supervised by the court” and that the sale “maximized the current recoveries of the company’s creditors."

2nd Transaction happening NOW!!!!