(Reuters) – China Traditional Chinese Medicine Holdings said on Wednesday its parent Sinopharm had decided not to proceed with a possible privatisation of the Chinese medicine maker.
Earlier this year, Reuters had reported that a consortium led by Sinopharm planned to take China Traditional Chinese Medicine Holdings (China TCM) private, in a deal that valued the firm at least $3.3 billion at the time.
China TCM also said the offer period in relation to the possible privatisation ended on Aug. 11.
(Reporting by Indranil Sarkar in Bengaluru; Editing by Subhranshu Sahu)
