Fosun Pharma to Offload Pharmaceutical Manufacturer for 1.26 Billion Yuan

MT Newswires Live

Sep 29

Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196), through subsidiary Fosun Pharmaceutical Industrial Development, plans to offload its 100% equity interest in pharmaceutical manufacturer and property management company Shanghai Clon Pharmaceutical for 1.26 billion yuan, according to a Saturday filing on the Shanghai bourse.

The Chinese pharmaceutical company's Shanghai shares slipped less than 1% during midday trade.

Fosun Pharma Industrial will transfer Shanghai Clon, along with its creditor's rights, to the private equity investment fund that will be established with Hony Tianjin Equity Investment Partnership (Limited Partnership) and Zhonghui Life Insurance. Fosun Pharma Industrial will hold almost 10% of the fund after injecting 54.6 million yuan.

After the transaction, the group will no longer hold any equity in Shanghai Clon.

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