Sihuan Biopharmaceutical to Buy 65.6146% of Zhongrun Pharmaceutical for 160 Million Yuan

Sihuan Biopharmaceutical said on September 4 that it plans to acquire a 65.6146% stake in Zhongrun Pharmaceutical Co. for 160 million yuan in cash, according to Jiemian News. The deal price is based on an appraisal by a valuation firm engaged in securities and futures services. After the transaction closes, Zhongrun Pharmaceutical will become a controlling subsidiary of Sihuan Biopharmaceutical. The target company will also carry out a targeted capital reduction, cutting a combined 17.9817% stake held by the targeted reduction parties, corresponding to 33.71575 million yuan of unpaid registered capital, with no compensation paid for the reduction. After the capital reduction is completed, Sihuan Biopharmaceutical will hold 80% of the target company.