Sanpower Said to Plan Deal to List U.S. Blood Unit in China (2)

Sanpower Group plans to buy out the rest of its China Cord Blood Corp. unit it doesn’t already own and move the listing from New York to Shanghai, according to people familiar with the matter, as the conglomerate joins a wave of Chinese corporations seeking to bring home overseas-traded businesses.

Sanpower, one of China’s most acquisitive conglomerates, plans to sell the stem-cell storage unit to its Shanghai-listed affiliate Nanjing Xinjiekou Department Store Co., the people said, asking not to be identified as the plans aren’t public. The move would bolster Nanjing Xinjiekou’s transformation from a brick-and-mortar retail operator to ...