Singapore: China Nepstar Chain Drugstore has completed the sales of its 40 percent equity ownership in Yunnan Jianzhijia Chain Drugstore Ltd. (JZJ) to Yunnan Jianzhijia Holding (JZJ Holding). In accordance with the terms of the agreement entered into by the company and JZJ Holding in connection with the transaction, JZJ Holding has acquired Nepstar's 40percent equity ownership in JZJ for a total cash consideration of $13 million (RMB 81.48 million).
JZJ was founded in 1999 and was 40 percent owned by Nepstar, 30 percent owned by Qunxiang Industrial Trading, and 30 percent owned by Yunnan Hengyu Industrial Trading.
