China Resources Sanjiu plans acquisition of Tianshili

China Resources Sanjiu Medical & Pharmaceutical (CR Sanjiu, SZSE:000999) plans to acquire 418,306,002 shares, representing 28% of total issued shares, of Tianshili Pharmaceutical Group from Tianshili Group and related parties. The purchase will be made via cash payment. Post-transaction, CR Sanjiu will become the controlling shareholder of Tianshili, with ultimate control resting with China Resources Co., Ltd. Tianshili Group has also pledged to relinquish some of its voting rights to keep it below 12.5%. The company's board of directors and board of supervisors have approved the transaction. The transaction is subject to shareholder approval.