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Perennial to buy 49.9% of Shanghai eldercare firm

It is injecting 735.5m yuan into Renshoutang to become the biggest shareholder and aims to turn the top Shanghai eldercare player into one of the biggest in China


PERENNIAL Real Estate Holdings has agreed to buy 49.9 per cent of the largest private eldercare operator in Shanghai for 735.5 million yuan (S$148 million).

It will inject the capital into Shanghai RST Chinese Medical Co (Renshoutang), which operates 11 eldercare