Vital is an essential buy for power firm

HONG KONG - China Guangdong Nuclear Power Group will buy the pharmaceutical supplier Vital Group Holdings Ltd, giving its uranium unit a listing in the city.

China Uranium Development Co, a wholly-owned subsidiary of Guangdong Nuclear, agreed to pay more than HK$984 million ($126 million) for Vital shares and convertible bonds, according to a Hong Kong Stock Exchange filing on Monday.

The deal gives Guangdong Nuclear access to funds in Hong Kong, one of its biggest electricity customers. It may also test investor appetite less than a month after Japan's worst nuclear disaster prompted countries from Germany to China to review or halt atomic plants.