On March 6, Lbx Pharmacy Chain Joint Stock Company(603883) ( Lbx Pharmacy Chain Joint Stock Company(603883) ) disclosed that the company decided to terminate the acquisition of 51% equity of Hebei Huatuo pharmacy pharmaceutical chain Co., Ltd. (hereinafter referred to as “Huatuo pharmacy”).
As for the reasons for termination, Lbx Pharmacy Chain Joint Stock Company(603883) said that the company signed the equity acquisition agreement on August 24, 2021. The company paid the first advance payment on time according to the equity acquisition agreement, promoted the completion of the antitrust review of the transaction, and urged the seller to strip and deliver the assets. As of February 15, 2022, The seller has not completed the agreed obligations of asset divestiture and underlying equity delivery. On February 16, 2022, the company sent a letter on urging the seller to handle the equity delivery procedures of Huatuo company, and the seller did not reply; On February 25, 2022, the company sent the letter on urging the seller to fulfill the equity acquisition agreement. The seller replied on February 28, 2022 that “two letters have been received; at present, the asset stripping is still in progress”. As of March 6, 2022 (the date of the 13th meeting of the Fourth Board of directors held by the company), the seller has not completed the agreed obligations of asset stripping and underlying equity delivery, and the seller has seriously breached the contract.
