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Shanghai Fosun Pharmaceutical (Group) Co Ltd's Subsidiary to Transfer Equity Shares to Winteam Pharmaceutical Group Ltd


Friday, 24 May 2013 08:00pm EDT 

Shanghai Fosun Pharmaceutical (Group) Co Ltd announced that its wholly owned subsidiary, a Hong Kong-based industrial company (Subsidiary A), has signed an equity purchase agreement with Wang Xiaochun, Hanmax Investment Limited (Hanmax Investment) and Winteam Pharmaceutical Group Ltd on May 23, 2013. According to the agreement, Subsidiary A and Hanmax Investment will respectively transfer 16,050,000 shares (a 32.1% stake) and 33,950,000 shares (a 67.9% stake) of Tongjitang Chinese Medicines Company, which is engaged in the research, development, production and sale of Chinese medicines, to Winteam Pharmaceutical Group Ltd , for approximately RMB 847.44 million, or a price between HKD 1,027.20 million and 1,091.40 million. 

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22 Aug 2014