May 16, 2018 / 12:57 AM / 6 months ago

China Resources Pharma in talks to buy controlling stake in Jiangzhong

HONG KONG, May 16 (Reuters) - China Resources Pharmaceutical Group Ltd said on Wednesday it is in talks with the provincial government of the southeast province of Jiangxi to acquire a controlling stake in Jiangzhong Group.

Jiangzhong Group specialises in traditional Chinese medicine and owns 43 percent of Shanghai-listed Jiangzhong Pharmaceutical Co Ltd.

Potential terms of the deal were not disclosed in the statement issued by China Resources Pharmaceutical.

Reporting by Clare Jim; Editing by Edwina Gibbs

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