Simcere Pharmaceutical Group (SCR)

[surf1944]

6:32AM Simcere Pharma (thinly traded) announces sale of equity interest in Boda for a cash consideration of RMB400 mln (SCR) 9.69 : Co announces that it entered into a share transfer agreement with Zhuhai Rongding Equity Investment Partnership on June 17, 2013 to sell Simcere's ~99.99% equity interest in Jilin Boda pharmaceutical Co, which is currently the manufacturer of Yidasheng, for a cash consideration of RMB400 mln.

Simcere holds an ~99.99% stake in Boda through acquisitions made since 2007. Upon completion of this transaction, Simcere will no longer hold any equity interest in Boda.