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Sinopharm Group Co Ltd to acquire 66 pct equity interest in Sichuan Medicine Group

Monday, 18 Aug 2014 08:26am EDT 

Sinopharm Group Co Ltd:Entered into equity transfer agreement with CNPGC, the ultimate controlling shareholder of company, in respect of acquisition of 66 pct equity interest in Sichuan Medicine Group at consideration of 472 mln yuan.Says upon completion of the transaction under the Equity Transfer Agreement, Sichuan Medicine Group will become a subsidiary of the company.Says in addition, since Sichuan Medicine Group holds 51 pct equity interest in Sichuan Medicine, the company’s direct and indirect shareholding in Sichuan Medicine will be increased to 82.66 pct upon completion of aforesaid transaction. 

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