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45% Stake in Shanghai Schering-Plough JV For Sale

publication date: May 23, 2008

Two China-based minority owners of the joint venture known as Shanghai Schering-Plough Industry Corp. Ltd. have announced their intentions to sell their participation in the entity. The majority owner, the giant pharma Schering-Plough (NYSE: SGP), will retain its 55% interest in the JV, and the big pharma will also have right of first refusal on buying the 45% minority stake. The asking price for the 45% piece of Shanghai Schering-Plough is 66.3 million RMB ($9.6 million).  More details...

Stock Symbol: (NYSE: SGP)

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