News Column

Yihua to Spend CNY720mn Acquiring Zhongankang

July 4, 2014

GUANGDONG, July 4, SinoCast -- Yihua Real Estate intended to acquire 100% of Guangdong Zhongankang through cash and share issuance.

The acquirer will pay CNY 720 million for the stake, including about CNY 148 million cash and CNY 572 million worth of shares issued. It will raise not more than CNY 240 million via non-public share issuance as a cash payment for the stake and supplement of the target company's working capital.

The target company is a professional provider of "integrated non-diagnosis and treatment" services. As of the end of March 2014, total and net assets hit CNY 340 million and CNY 184 million. Net profits hit CNY 24.9813 million, CNY 21.8868 million and CNY 6.2073 million in 2012, 2013 and the first three months of 2014.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Health Care & Medicine Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters