China’s Renhe Pharmacy to acquire pharmaceutical assets from parent for US$89.9 million

2009-03-03 Nanchang

China’s Renhe Pharmacy, shares of which are traded on the Shenzhen stock exchange under the ticker symbol 000650, announced on 25 February that the company will acquire 100 per cent interests in Jiangxi Yaodu Renhe Pharmaceutical and Jiangxi Kangmei Medicine and Healthcare from its parent Renhe Group for a combined RMB 615.7 million, or approximately US$89.9 million. The transaction is still subject to approval from shareholders of Renhe Pharmacy.