Simcere Pharmaceutical Sells Interest in Boda

Simcere Pharmaceutical Group SCR today announced that it entered into a share transfer agreement with Zhuhai Rongding Equity Investment Partnership L.P. on June 17, 2013 to sell Simcere's approximately 99.99% equity interest in Jilin Boda pharmaceutical Co., Ltd. ("Boda"), which is currently the manufacturer of Yidasheng, for a cash consideration of RMB400 million. Simcere holds an approximately 99.99% stake in Boda through acquisitions made since 2007. Upon completion of this transaction, Simcere will no longer hold any equity interest in Boda. Consummation of the transaction is subject to certain closing conditions.  See full press release
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsGuidanceContractsAsset SalesManagementGlobal
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!