Sinopharm drops plan to take China Traditional Chinese Medicine private

Government-organised visit to the production line of COVID-19 vaccine by Beijing Institute of Biological Products of Sinopharm's CNBG

(Reuters) - China Traditional Chinese Medicine Holdings said on Wednesday its parent Sinopharm had decided not to proceed with a possible privatisation of the Chinese medicine maker.

Earlier this year, Reuters had reported that a consortium led by Sinopharm planned to take China Traditional Chinese Medicine Holdings (China TCM) private, in a deal that valued the firm at least $3.3 billion at the time.

China TCM also said the offer period in relation to the possible privatisation ended on Aug. 11.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Subhranshu Sahu)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting

Recommended Stories