Golden Meditech To Sell China Cord Blood Stake In Newly Structured Go-Private Deal

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Six months after two competing bidders tried to take New York Stock Exchange-listed China Cord Blood Corporation private, the two rivals have reached a complicated compromise deal in a step closer toward the finish line.

Hong Kong-listed Chinese healthcare firm Golden Meditech Holdings Ltd. has entered into a conditional sale and purchase agreement to sell its 65.4% stake in China Cord Blood Corporation to rival bidder, Nanjing Xinjiekou Department Store Co., Ltd., for approximately RMB5.76 billion (US$874 million), according to an announcement.

China Money Network

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