Meilleure Health International Industry Group Ltd said its unit Wuhu Meilleure Health Management Ltd will buy a 20% equity stake in Hemp Investment Group Co. Ltd. for 60 million Chinese yuan.
Hemp Investment Group is a China-based investment fund focused on the hemp whole industrial chain industry.
As a result of the investment, Wuhu nominated Zhou Wen Chuan to Hemp Investment's board.
The transaction is expected to close by April 30.
As of March 16, US$1 was equivalent to 6.33 Chinese yuan.
