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news.Golden Meditech expects to take over remaining stake in its Chinese herbal medicine business for a total consideration of HK$90m in shares.
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Chinese herbal medicine business is engaged in the research and development, production and distribution of Chinese herbal medicines in China and overseas
Following the transaction, the Chinese Herbal medicine business is expected to become the wholly subsidiary of Golden Meditech.
Golden Meditech chairman Kam Yuen said it is a timely opportunity for them to acquire the remaining interests along with a sizable plot of land in a prime location in Shanghai at a very reasonable price.