Brief: Genertec Universal Medical Group Enters Cooperation Agreement With CEC Caihong Group To Form JV

Genertec Universal Medical Co

18/03/2019 10:06

March 18 (Reuters) - Genertec Universal Medical Group Co Ltd
 2666.HK :
    * ENTERED COOPERATION AGREEMENT WITH CEC CAIHONG GROUP CO IN
CONNECTION WITH FORMATION OF A JOINT VENTURE
    * TOTAL INVESTMENT OF JOINT VENTURE IS RMB380 MILLION
    * JOINT VENTURE WILL BECOME NEW PROMOTER OF XIANYANG CAIHONG
HOSPITAL IN REPLACEMENT OF CEC CAIHONG.
    * AS PART OF TOTAL INVESTMENT, UNIT TO CONTRIBUTE RMB200
MILLION
IN CASH
    * REGISTERED CAPITAL OF JV WILL BE HELD BY WISEMAN AND CEC
CAIHONG
AS TO 52.63% AND 47.37%, RESPECTIVELY

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS9GyPlv
Further company coverage:  2666.HK 

 ((Reuters.Briefs@thomsonreuters.com;))