MY Medicare (HKG:0233) sells 51% stocks in Weiyi for RMB65M

   Date:2011-12-21     Source:xywlitingting

Mingyuan Medicare Development (00233.HK) announced that, on 19 December 2011, it agreed to sell to Jiang Yi 51% interest in Shanghai Weiyi Hospital Investment & Management Co., Ltd (Weiyi) for a cash consideration of RMB65 million. Mingyuan Medicare expects to realize HK$1.815 million net gain before tax from the disposal.

Weiyi holds 100% interest in Shanghai Heng Shan Woman and Child Healthcare Hospital in Hongkou District, Shanghai. After completion, Weiyi will cease to be a subsidiary of Mingyuan Medicare

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