Laobaixing Drugstore Chain Secures $80 Million From EQT Partners Asia
This article was originally published in PharmAsia News
Hunan Laobaixing Chain Drugstore has successfully secured capital infusion of more than $80 million from EQT Partners Asia, a subsidiary of Sweden-based Investor AB. This represents the largest overseas fund injection for China's drug retail industry in recent years. The deal effectively makes Laobaixing a Sino-foreign equity joint venture and reflects international investment confidence in China's drug retail market. After receiving the capital, Laobaixing will further establish its chain and expand in the domestic market as well as adopt an advanced international management system. The company is expected to go public between 2010 and 2011. (Click here for more - Chinese Language)
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