HONG KONG (dpa-AFX) - Golden Meditech Holdings Limited Friday announced that it entered into a sale and purchase agreement with Nanjing Yingpeng Huikang Medical Industry Investment Partnership for the disposal of its entire equity stake in China Cord Blood Corp.(CO) for total cash consideration of RMB5.764 billion. The stake represents 65.4 percent equity interest in China Cord Blood.
Golden Meditech has agreed to give three years' performance guarantee of China Cord Blood in favour of the Purchaser. In case of earnings shortfall, Golden Meditech will compensate the Purchaser by cash in an amount to be calculated in accordance with the formula set forth in the profit compensation agreement.
The board of directors of the Company will also consider a possible dividend payment as a mean to reward its shareholders.
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