Sihuan Pharma to acquire fellow Chinese drug firm
China’s Sihuan Pharmaceutical says that its wholly-owned subsidiary Sun Moral International (HK) has entered into an equity acquisition agreement with Ambest Pharmaceutical to acquire the 100% equity interest held by the transferor in Ambest Pharmaceutical (China) Company for a consideration of 1.1 billion renminbi ($160 million). Upon completion of the Share Acquisition, Ambest Pharmaceutical (China) will become a wholly-owned subsidiary of the Company.
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