December 22, 2017 / 9:17 AM / a month ago

BRIEF-Yonghui Superstores To Acquire 12 Pct of Chengdu Hongqi Chain For 946.6 Mln Yuan

Dec 22 (Reuters) - Yonghui Superstores Co Ltd:

* SAYS IT PLANS TO BUY CHENGDU HONGQI CHAIN‘S 163.2 MILLION SHARES, REPRESENTING 12.0 PERCENT OF TOTAL ISSUED CAPITAL, FOR 946.6 MILLION YUAN ($144.02 million)

* SAYS BOARD APPROVES TO SIGN STRATEGIC FRAMEWORK AGREEMENT WITH CHENGDU HONGQI CHAIN ON RETAIL BUSINESS DEVELOPMENT Source text in Chinese: bit.ly/2Dw0yqv Further company coverage: ($1 = 6.5726 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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