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Meilleure Health buys 20% stake in Hemp Investment Group

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.