December 22, 2017 / 11:52 AM / a month ago

BRIEF-Guangzhou Baiyunshan Pharmaceutical To Acquire Stake In Guangzhou Pharma

Dec 22 (Reuters) - Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd:

* SAYS IT PLANS TO ACQUIRE 30 PERCENT STAKE IN GUANGZHOU PHARMA FOR 1.09 BILLION YUAN ($165.84 million)

* SAYS TO OWN 80 PERCENT STAKE OF GUANGZHOU PHARMA AFTER THE TRANSACTION

* SAYS SELLER HAS THE OPTION TO SELL THE REMAINING 20 PERCENT STAKE IN GUANGZHOU PHARMA Source text in Chinese: bit.ly/2pbHz13 Further company coverage: ($1 = 6.5727 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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