May 15, 2020 / 11:00 AM / 21 days ago

BRIEF-Shanghai Pharmaceuticals Announces Entering Into Land Acquisition And Reserve Agreement

May 15 (Reuters) - Shanghai Pharmaceuticals Holding Co Ltd :

* CHIATAI QINGCHUNBAO & WEST STREAM VALLEY CONSTRUCTION HEADQUARTER ENTER LAND ACQUISITION & RESERVE AGREEMENT

* WEST STREAM VALLEY CONSTRUCTION HEADQUARTER TO PAY RMB2.01 BILLION TO CHIATAI QINGCHUNBAO

* EXPECTS TO RECORD ONE-OFF GAIN OF ABOUT RMB1.537 BILLION (BEFORE TAXATION) IN YEAR OF DELIVERY OF TARGET PROPERTIES

* PURCHASER TO COMPENSATE LOSSES OF LAND AND PREMISES OF CHIATAI QINGCHUNBAO Source text for Eikon: Further company coverage:

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