GNC Receives Full Funding of $300 Million Investment by Harbin Pharmaceutical Group
GNC ACQUISITION HOLDINGS (GNC)
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Source: GlobeNewswire
Closes on Final $150 Million Investment Enhances GNC Capital Position PITTSBURGH, Feb. 13, 2019 (GLOBE NEWSWIRE) -- GNC Holdings, Inc. (NYSE: GNC) (the “Company”), a leading global health and wellness brand, announced today that Harbin Pharmaceutical Group Co., Ltd. (“Hayao”) has completed the final $150 million investment of Hayao’s previously announced $300 million strategic investment (the “Hayao Investment”) in the Company. The Company also announced the formation of the Hong Kong-based China e-commerce joint venture with Hayao. As previously announced, Hayao completed the funding of the first $150 million of its strategic investment in GNC in two installments: $100 million on November 8, 2019 and an additional $50 million on January 2, 2019. The formation of the Hong Kong-based China e-commerce joint venture represents the first and most significant step towards the completion of the China joint venture previously announced by the Company. The parties expect to complete th
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