CICC funds exit China TCM business as rival agrees $1.3b buyout
Two PE funds managed by China International Capital Corporation (CICC) will exit Jiangyin Tianjiang Pharmaceutical as China Traditional Chinese Medicine (China TCM) buys a majority stake in the business for up to RMB8.34 billion ($1.34 billion).
China TCM will acquire an 81.48% interest in Jiangyin Tianjin through three transactions, the Hong Kong-listed company said in a regulatory filing. The total consideration values the target company at...
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