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Aier Eye Hospital sells minority stake to 2 investment firms for 1.9B yuan

Aier Eye Hospital Group Co. Ltd. sold 61.9 million shares to Singapore's government-owned investment firm Temasek Holdings Ltd. and private equity fund Hillhouse Capital Advisors Ltd. for 1.9 billion yuan, Deal Street Asia reported, citing a Shenzhen Stock Exchange filing.

Each firm now owns about 1% of the company, which operates about 200 eye hospitals in China and also has a presence in Europe, the U.S. and Hong Kong.

Aier Eye Hospital's controlling shareholder, Aier Medical Investment Group Co. Ltd., and Chen Bang, another shareholder, sold 40.4 million and 21.5 million shares, respectively.

The healthcare company plans to use the proceeds to acquire properties to build hospitals and to help establish health insurance companies.

As of Sept. 3, US$1 is equivalent to 7.18 Chinese yuan.