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Our Bureau

Mumbai, Dec. 14

JB Chemicals and Pharmaceuticals Ltd (JBCPL) has signed an agreement to make a strategic investment of $5.1 million in Biotech Laboratories (Pty) Ltd of South Africa.

The investment, which is expected to be completed during the first quarter of 2007 will entitle JBCPL to own minority stake in Biotech with an option to increase its holding in the future.

Shares of the company rose by 0.89 per cent to close at Rs 90.90 on BSE.

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