M&As this week: Zhejiang Conba Pharmaceutical, The Kraft Heinz Company, and Its Skin

Zhejiang Conba Pharmaceutical has announced the sale of a 57.3% stake in a pharma company for CNY345.1m ($50.27m).

A subsidiary of Conba Group, Zhejiang Conba is a medicines and chemical products provider.

The Kraft Heinz Company has withdrawn its proposal, announced on 17 February 2016, to acquire Unilever Plc and Unilever N.V.

If completed, the deal would have been valued at $143bn.

Its Skin has announced its decision to merge with Hanbul Cosmetics.

Following the merger, Hanbul Cosmetics will be dissolved and the merged entity will be named Its Hanbul.

Both the companies involved in the transaction are based in Korea.