Chengdu Xingcheng Investment Group Co., Ltd. completed the acquisition of 11.45% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. from Tianjin Datong Investment Group Co., Ltd.
January 08, 2019
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Chengdu Xingcheng Investment Group Co., Ltd. agreed to acquire 11.45% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. (SZSE:300026) from Tianjin Datong Investment Group Co., Ltd. for CNY 1.3 billion on October 22, 2018. On November 25, 2018, an agreement was signed. In related transactions, Chengdu Better City Investment Group Co., Ltd. agreed to acquire 4.55% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. from Yao Xiaoqing for approximately CNY 520 million and agreed to acquire 0.2% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. from Sun Changhai for CNY 22.5 million. Prior to the transactions, Chengdu Better City Investment Group Co., Ltd. did not hold any stake and after the transactions, Chengdu Better City Investment Group Co., Ltd. will hold 16.2% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. Chengdu Better City Investment Group Co., Ltd. will use its own funds to acquire the stake. The Board of Directors of Chengdu Better City Investment Group Co., Ltd. approved the transaction on October 22, 2018. On November 18, 2018, State-owned Assets Supervision and Administration Commission of Chengdu approved the transaction.
Chengdu Xingcheng Investment Group Co., Ltd. completed the acquisition of 11.45% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. (SZSE:300026) from Tianjin Datong Investment Group Co., Ltd. on January 9, 2019.
Tianjin Chase Sun Pharmaceutical Co.,Ltd is a China-based company principally engaged in the research, development, manufacture and distribution of pharmaceuticals. The Company's main products include Chinese traditional formula granules, Xuebijing injection, fasudil hydrochloride injection, low molecular weight heparin calcium injection, bulk drugs and excipient, among others. The Company also provides medical apparatus and instrument. The Company distributes its products in domestic market and to overseas markets.
Chengdu Xingcheng Investment Group Co., Ltd. completed the acquisition of 11.45% stake in Tianjin Chase Sun Pharmaceutical Co., Ltd. from Tianjin Datong Investment Group Co., Ltd.