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Genus plc announced on February 2, 2026, the successful formation of its Chinese porcine joint venture with Beijing Capital Agribusiness on January 31, 2026, and will receive a gross cash payment of US$160m (estimated US$140m net) in addition to a US$7.5m gross milestone payment already recognised. Consequently, PIC China will be deconsolidated from Genus's group accounts due to Genus's 49% joint venture ownership.
| Date | 2 Feb 2026 |
| Time | 07:00:08 |
| Category | Acquisitions and alliances |
| ID | 2689R |
2 February 2026
Genus plc ("Genus" or the "Group")
Successful formation of Chinese porcine joint venture
Genus (LSE: GNS), a leading global animal genetics company, is pleased to announce the successful formation of its Chinese porcine joint venture on 31 January 2026. As announced on 4 September 20251, Genus believes its joint venture partnership with Beijing Capital Agribusiness provides the best platform to accelerate the growth of PIC China.
Following successful formation of the joint venture, Genus will receive a gross cash payment of US$160m (estimated US$140m, net of withholding tax and transaction costs, and subject to any further working capital and net debt adjustments). This gross cash payment is in addition to a gross milestone payment to Genus of US$7.5m which was recognised in the Group's fiscal first half.
As a result of Genus's joint venture ownership of 49%, PIC China will henceforth be deconsolidated from Genus's group accounts. Management will discuss the pro-forma implication of the joint venture formation during the Group's scheduled interim results announcement on 26 February 2026.
For further information please contact:
Genus plc Tel: +44 (0)1256 345 970
Jorgen Kokke, Chief Executive Officer
Andy Russell, Chief Financial Officer
Anand Date, Investor Relations & Sustainability Director
Burson Buchanan Tel: +44 (0)207 466 5000
Charles Ryland; Mark Court; Toto Berger; Jamie Hooper
About Genus
Genus is a world-leading animal genetics company. Genus creates advances to animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.
Genus's worldwide sales are made in over seventy-five countries under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen, embryos and breeding animals with superior genetics to those animals currently in farms. Genus's customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chains.
The Group's competitive edge has been created from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and its global supply chain, technical service and sales and distribution network.
With headquarters in Basingstoke, United Kingdom, Genus companies operate in over twenty-five countries on six continents, with research laboratories located in Madison, Wisconsin, USA.
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