April 22, 2018 / 10:58 PM / a month ago

BRIEF-Dongfang Modern Agriculture Holding Group To Buy 70% Of Bio Health Pharmaceuticals For $18 Mln

April 23 (Reuters) - Dongfang Modern Agriculture Holding Group Ltd:

* ACQUISITION OF 70 PCT OF BIO HEALTH PHARMACEUTICALS FOR TOTAL CASH CONSIDERATION OF $18 MILLION

* INTENDS TO INVEST A FURTHER $5 MILLION IN BIO HEALTH’S FACILITY SUBJECT TO CERTAIN CONDITIONS

* TRANSACTION FUNDED THROUGH TERM LOAN FACILITY WITH CHINA HUARONG MACAU (HK) INVESTMENT HOLDINGS

* TERM LOAN OF $50 MILLION WAS FULLY DRAWN ON 2 JAN 2018

* BIO HEALTH EXPECTS TO REPORT NET SALES FOR CALENDAR YEAR 2018 OF $9.6 MILLION Source text for Eikon: Further company coverage:

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