Brief: China Biologic agrees to acquire Tianxinfu from PWM

PW Medtech

12/10/2017 13:30

Oct 12 (Reuters) - China Biologic Products Holdings Inc 
 CBPO.O  
    * China Biologic agrees to acquire Tianxinfu from PWM 
    * China Biologic Products Holdings Inc - It has agreed to 
acquire 80% equity interest in Tianxinfu (Beijing) Medical 
Appliance Co., Ltd 
    * China Biologic Products - In exchange for acquisition of 
80% equity interest in Tianxinfu from PWM, Cbpo will issue 5.5 
million ordinary shares to PWM 
    * China Biologic Products - PWM is expected to hold 
approximately 16.66% of outstanding share capital of Cbpo taking 
into effect new issuance post deal 
    * China Biologic Products - Board determined to exempt deal 
from causing PWM to be deemed "acquiring person" under CBPO's 
preferred shares rights agreement 
    * China Biologic Products Holdings Inc - Acquire 80% equity 
interest in Tianxinfu from PW Medtech Group Limited 
    * China Biologic Products - CBPO elected to be exempted 
from shareholder approval requirement under applicable rules of 
nasdaq market for proposed deal 
    * China Biologic Products Holdings - Elected to be exempted 
from shareholder approval requirement under applicable rules of 
Nasdaq stock market for deal 
    * China Biologic Products Holdings Inc - Post deal close, 
PWM expected to hold about 16.66% of  share capital of co taking 
into effect new issuance 
 
Source text for Eikon:  ID:nPnbVd4RYa  
Further company coverage:  CBPO.O  
 
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