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
Singapore
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 facilities with over 2,400 beds, and four pharmacies, each with a dedicated TCM (traditional chinese medicine) clinic. They are predominantly located in Changning District in Shanghai.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push
Hermes Q1 sales jump 17% on strong China demand
AstraZeneca leaps after smashing Q1 forecasts