Hutchmed (China) (HKG:0013) agreed to dispose of its 35% equity in Shanghai Hutchison Pharmaceuticals or SHPL to two entities under GP Health Service Capital for 3.48 billion yuan, according to a Hong Kong Stock Exchange filing on Monday.
Shanghai GP Zhicheng Private Equity Investment Fund Partnership (Limited Partnership) will acquire 25.1% and Shanghai GP Zhibaihe Enterprise Management Partnership (Limited Partnership) will buy 9.9% of SHPL for 2.50 billion yuan and 982.6 million yuan, respectively.
Shanghai Pharmaceuticals (HKG:2607, SHA:601607) agreed in January to takeover 10% of SHPL, the pharmaceutical company said.
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