China Meheco Group Co., Ltd. (SHSE:600056) and China General Technology (Group) Holding Co., Ltd. agreed to acquire 49% in Chongqing Pharmaceutical Health Industry Co., Ltd. for CNY 4.1 billion on October 23, 2019. China Meheco Group Co., Ltd. will acquire 27% stake for CNY 2.3 billion and China General Technology will pay CNY 1.8 billion to acquire 22% stake. As on July 31, 2019, Chongqing Chemical & Pharmaceutical Holding (Group) Company reported total assets of CNY 27.1 billion. The Board of Directors and Supervisors of China Meheco Group Co., Ltd. approved the deal. The deal requires approval from its shareholders too. China Meheco Group Co., Ltd. (SHSE:600056) and China General Technology (Group) Holding Co., Ltd. completed the acquisition of 49% in Chongqing Pharmaceutical Health Industry Co., Ltd. on January 18, 2020.