Perennial Real Estate: Acquired 49.9% in Renshoutang, the largest private integrated eldercare services operator in Shanghai, for Rmb735.5m ($148m), or 12.9x P/EBITDA. It currently operates a portfolio of 11 eldercare facilities, with over 2,400 beds, and four pharmacies, each with a dedicated TCM clinic, and all of which are located predominantly in Changning District in Shanghai.This gives Perennial the immediate access to the eldercare industry, and the group intends to subsequently scale the business to become the largest eldercare services operator in the Yangtze River Delta Region to meet the rising demand for integrated medical and eldercare driven by China’s aging population.No details provided at this point on pro forma numbers, or the trading resumption for the counter.
Counter to resume trading at 12.45pm
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