Ali Health acquires Tmall online pharmaceutical business transaction delay completion date

2018/09/28 17:26
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On January 4, Ali Health announced that the date of acquisition of Tmall's online pharmaceutical business will be postponed to March 31, 2016.
The Alibaba Health Announcement, the company has entered into a share purchase agreement with the Alibaba Group's subsidiary, Ali JK Investment (a subsidiary of the Alibaba Group) and Chen Wenxin, which is proposed to be subject to the number of agreements set out in the agreement. Completion of the prerequisites (including obtaining the required regulatory approvals) is completed. In the event that any of the conditions precedent set out above is not fulfilled on or before 31 December 2015 or such later date as the Company may agree in writing with the Vendors, the Agreement will automatically terminate immediately in accordance with its terms.
According to the announcement, Ali Health Board and Ali JK Investmen have agreed to extend the final deadline for the acquisition from December 31, 2015 to March 31, 2016 or a later date agreed by both parties.
In April 2015, Alibaba Group announced a final agreement with Ali Health to transfer the trading rights of Tmall's online pharmaceutical business to Ali Health, in exchange for the shareholding ratio of the latter to approximately 53%, turning it into Alibaba. Subsidiary. Ali's investment in the injection of Tmall's pharmaceutical business into Ali Health was HK$19.448 billion.
The core section of Tmall Medicine Online is Tmall Medicine. There are 201 online pharmacies currently stationed in Tmall Medicine. As of December 31, 2015, the number of online pharmacy licenses was 388 (some of them). The company's online store has not yet officially launched.) Qijian Bio