Article: HOLLEY PHARM SELL 19.6% STAKE IN HOLLEY METERING


AsiaInfo Services
05-25-2007
Holley Pharm Sell 19.6 Stake in Holley Metering

CHONGQING, May 25, 2007 (SinoCast via COMTEX) -- Chongqing Holley Pharm Co., Ltd., a China-based pharmaceutical manufacturer, announced that it plans to sell a 19.6 stake it takes in Holley Metering to its actual controller Holley Group for CNY 100 million.

The Chongqing-based pharmaceutical manufacturer will still be the largest shareholder of Holley Metering after the deal as its stake in the subsidiary is still up to 57.17 currently.

Behind the stake sale is the company's efforts to focus on pharmaceutical manufacturing through consolidating the ...

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