China Resources Pharmaceutical Group Ltd. (HK:3320) has released an update.
China Resources Pharmaceutical Group Ltd. has announced a significant internal restructuring, with subsidiary CR Sanjiu selling a 51% stake in CR Shenghuo to another subsidiary, KPC, for approximately RMB 1.791 billion. This deal will reduce the parent company’s ownership in CR Shenghuo from 63% to 39.88%, but CR Shenghuo will remain a non-wholly-owned subsidiary. The transaction price was based on an independent valuation and is subject to standard regulatory approvals.
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