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700 Million! In 9 Months, Harbin Pharmaceutical Group Acquired GNC And Has “made Money”
Nov 14, 2018

In the announcement disclosed by Harbin Pharmaceutical Group on the evening of November 7, after consultation with GNC, Harbin Pharmaceuticals intends to pay its subscription investment in three separate payments, including: the first payment of 100 million US dollars before November 9, 2018 (a total of nearly 700 million yuan) ), and assigned 2 directors to GNC; payment of $0.5 billion before December 31, 2018; payment of $149 million before February 13, 2019, and assignment of the remaining three directors to GNC.


In addition, in September, Harbin Pharmaceutical Group issued a notice saying that it received a notice from the US Foreign Investment Committee that the US Foreign Investment Committee has reviewed the transaction of Harbin Pharmaceuticals to subscribe for GNC299950 convertible preferred stock. The notice shows that in addition to receiving confirmation from the United States, the transaction has also been approved by the Harbin SASAC and is still subject to approval or filing by the Heilongjiang Development and Reform Commission and the Heilongjiang Foreign Exchange Administration.


This time, not only has Harbin Pharmaceutical Group completed a one-third subscription payment for GNC, but it has also received approval from the Heilongjiang Foreign Exchange Administration.

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