Golden Meditech to Sell its Equity Interest in China Cord Blood Corporation Cash Consideration of RMB5.764 Billion
HONG KONG, Dec. 30, 2016 /PRNewswire/ — Golden Meditech Holdings Limited (SEHK stock code: 00801, TWSE stock code: 910801) (“Golden Meditech” or the “Company”, together with its subsidiaries, the “Group”), a leading integrated healthcare enterprise in China, announces that it entered into a sale and purchase agreement with Nanjing Yingpeng Huikang Medical Industry Investment Partnership (Limited Partnership) 1 (“Yingpeng Huikang Fund” or the “Purchaser”) on 30 December 2016 regarding the disposal of the Company’s entire equity stake in China Cord Blood Corporation (“CCBC”) which represents 65.4% equity interest in CCBC on a fully diluted basis, for total cash consideration of RMB5.764 billion. The Company will host an extraordinary general meeting for shareholders to approve the transaction.
As part of the transaction, Golden Meditech agrees to give three years’ performance guarantee of CCBC in favour of the Purchaser. In case of earnings shortfall, Golden Meditech will compensate the Purchaser by cash in an amount to be calculated in accordance with the formula set forth in the profit compensation agreement.