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CR Pharma to Acquire Jiangzhong Pharma for $667 Million

publication date: Jun 4, 2018

China Resources Pharma will pay $667 million to acquire all the outstanding shares of Jiangzhong Pharma, a listed company. Three weeks ago, CR Pharma announced plans to acquire a stake in the parent company, Jiangzhong Group, for $613 million, which will, when added to its current holdings, give CR Pharma majority control of Jiangzhong Group. Jiangzhong Group, the parent, owns a 43% stake in Jiangzhong Pharma. All together, CR Pharma will pay nearly $1.3 billion for a controlling stake in the parent and about 80% ownership of the listed subsidiary. More details....

Stock Symbol: (HK: 3320) (SHA: 600750)

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