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BRIEF-Zhongbai Holdings Group to transfer 49 pct stake in unit to investment LP for 132.8 mln yuan
March 30, 2017 / 3:11 AM / 8 months ago

BRIEF-Zhongbai Holdings Group to transfer 49 pct stake in unit to investment LP for 132.8 mln yuan

March 30 (Reuters) - Zhongbai Holdings Group Co Ltd :

* Says co plans to transfer 49 percent stake in co’s fresh food processing and distribution unit to an equity investment fund LP, in which co owns a 9.17 percent of capital contribution, for 132.8 million yuan

* Says co will own 51 percent stake in the unit after transaction, down from 100 percent currently

* The equity investment fund LP will also inject capital in co’s wholly owned convenience store operation sub-subsidiary and to own 30.77 percent

* Co’s wholly owned supermarket operation subsidiary’s stake in the convenience store operation unit will be lowered to 69.23 percent from 100 percent

* Co plans to pay cash div 0.8 yuan per 10 shares for FY 2016

Source text in Chinese: goo.gl/cILrJL ; goo.gl/TiG6lW ; goo.gl/eFzyHF

Further company coverage: (Beijing Headline News)

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