AIX (AIFU) said Friday that it signed a strategic transaction agreement to transfer its intelligent platform, valued at $140 million, to BGM Group (BGM) in exchange for about 70 million class A BGM shares.
AIX's intelligent platform comprises the company's RONS Intelligent Technology and Shenzhen Xinbao Investment Management units, according to the statement. AIX said it expects the transaction to accelerate its expansion into the pharmaceutical and health care sector.
The transaction is expected to close by the end of the year, after which AIX said it will hold about a 72% stake in BGM Group. BGM Group will have full control of RONS Technology and Xinbao Investment, the company added.
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