SINGAPORE (Dec 2): OUE Lippo Healthcare (OUELH) announced Monday it has entered into a share subscription agreement to jointly develop, operate and manage a high-end international hospital in Prince Bay, Shenzhen with China Merchants Group for RMB126.3 million ($24.6 million).

OUELH says the project is expected to deepen the group's collaboration with China’s Hong Kong-based state-owned conglomerate.

Under the share subscription agreement, OUELH will pay RMB126.3 million for a 50% stake in Riviera Quad International, which wholly-owns Lekang Assets (Shenzhen) Co.

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