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Excelsior Medical Co Ltd Announces Acquisition Price for Stake in Joint Venture by Subsidiary from Sinopharm Group Co Ltd

Sunday, 28 Jul 2013 08:55pm EDT 

Excelsior Medical Co Ltd announced that its Hong Kong-based subsidiary will acquire a 32% stake in an investment company for RMB 74,727,000 from Sinopharm Group Co Ltd, and may acquire the remaining 19% stake in the target company from Sinopharm Group Co Ltd. The target company is a joint venture between the Hong Kong-based subsidiary and Sinopharm Group Co Ltd, with the subsidiary holding a 49% stake and Sinopharm Group Co Ltd holding a 51% stake. 

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