Sinopharm drops plan to take China Traditional Chinese Medicine private

China Traditional Chinese Medicine Holdings Co

11/08/2021 08:05

Aug 11 (Reuters) - China Traditional Chinese Medicine
Holdings  0570.HK  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.  urn:newsml:reuters.com:*:nL8N2K12G1   
    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)
 ((Indranil.Sarkar@thomsonreuters.com; Mobile:  +91
7022132226;))