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India

China Foods Ltd (0506.HK)

0506.HK on Hong Kong Stock

3.82HKD
11 Dec 2017
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Tue, Oct 17 2017

China Foods to sell wine, non-beverage business to parent for $649 million

HONG KONG China Foods Ltd said it would sell its wine and other non-beverage businesses to a unit of its state-owned parent COFCO Corp in a deal valued at HK$5.07 billion ($649 million) as it aims to focus on its beverage business.

China Foods to sell wine, non-beverage business to parent for $649 mln

HONG KONG, Oct 17 China Foods Ltd said it would sell its wine and other non-beverage businesses to a unit of its state-owned parent COFCO Corp in a deal valued at HK$5.07 billion ($649 million) as it aims to focus on its beverage business.

BRIEF-China Foods announces ‍disposal of equity interests in target co's for HK$1.40 bln

* Upon completion and payment of special dividend, remaining net proceeds to be received by co about hk$2. 47 billion​

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