China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. completed the acquisition of a 28% stake in KPC Pharmaceuticals, Inc. from Hofon Pharmaceuticals Co.,Ltd. and Holley Group Company Limited.
December 29, 2022
Share
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. (SZSE:000999) agreed to acquire 28% stake in KPC Pharmaceuticals, Inc. (SHSE:600422) from Holley Pharmaceutical Group Co., Ltd and Holley Group Company Limited for CNY 2.9 billion on May 6, 2022. Shares will be purchased at CNY 13.67 per share. Transaction has been approved by China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. board of directors and shareholders. The transaction is still subject to board of directors approval after completion of the audit and appraisal works, approval by the SASAC, shareholders approval and Anti-Monopoly Bureau of the State Administration for Market Regulation. The transaction still needs to be reviewed and approved by the China Resources Sanjiu Shareholders' Meeting. On August 8, 2022, Holley Pharmaceutical's shareholder issued a shareholder decision and Holley Group held its shareholders' meeting approving this transaction. On December 22, 2022, State-owned Assets Supervision and Administration Commission of the State Council approved the transaction. For China Resources Sanjiu Medical & Pharmaceutical, Independent financial advisor was Huatai United Securities Co., Ltd., Legal advisor was AllBright Law Offices Shenzhen and Accountant was Ernst & Young Hua Ming Certified Public Accountants.
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. (SZSE:000999) completed the acquisition of a 28% stake in KPC Pharmaceuticals, Inc. (SHSE:600422) from Hofon Pharmaceuticals Co.,Ltd. and Holley Group Company Limited on December 30, 2022.
KPC Pharmaceuticals, Inc. is a China-based company principally engaged in the research and development, manufacturing and sales of pharmaceuticals. The Company's main products include natural herbal medicines, traditional Chinese medicines and chemical synthetic drugs, such as central nervous system drugs, cardiovascular and cerebrovascular drugs, anti-parasitic drugs, anti-microbial drugs, anti-gout drugs, hormones and endocrine drugs, hemorrhoids medicines and anti-inflammatory drugs, among others. The Company is also engaged in the production of health products and provision of medical services.
China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. completed the acquisition of a 28% stake in KPC Pharmaceuticals, Inc. from Hofon Pharmaceuticals Co.,Ltd. and Holley Group Company Limited.