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Harbin Pharma to Acquire 40% of US-based GNC for $300 Million

publication date: Feb 13, 2018

Harbin Pharmaceutical Group (Hayao) will invest $300 million in GNC Holdings (NYSE: GNC), a US company that makes nutritional supplements. Hayao will also form a JV with GNC to make and distribute GNC supplements in China. After the transaction, Hayao will be GNC's largest shareholder with a 40% stake in the company. GNC shares rose 27% on the news, climbing to $5.35 per share. More details....

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