Baiyunshan Pharmaceutical's fund to buy 11pc stake in Nanjing Pharmaceutical

Guangzhou Baiyunshan Pharmaceutical (0874) said its fund has agreed to buy an 11 percent stake in Nanjing Pharmaceutical for 749 million yuan (HK$816.9 million).

GP Fund II will become the second-largest shareholder of the target company following the transaction, according to a filing on Sunday. 

Nanjing Pharmaceutical is a pharmaceutical distribution company,  engaged primarily in pharmaceutical wholesale, retail, "Internet Plus", and third-party logistics.

Its market network covers Jiangsu, Anhui, Hubei, Fujian, and Kunming City in the southwestern region, possessing extensive operational experience, resources, and brand recognition in regional markets, the filing said.