Article: WUCHANGYU TAKES OVER BEIJING ZHONGDI REAL ESTATE


AsiaInfo Services
08-06-2007
Wuchangyu Takes Over Beijing Zhongdi Real Estate

BEIJING, Aug 06, 2007 (SinoCast via COMTEX) -- Hubei Wuchangyu Co., Ltd. (Wuchangyu, SHSE: 600275), a new comer of the real estate sector, finally completed the acquisition for Beijing Zhongdi Real Estate Development Co., Ltd. on August 2.

Wuchangyu now increases its stake in the Zhongdi Real Estate from 51% to 97%, after buying a 46% stake from Beijing Huapu Industrial Group, the controlling shareholder of the listed company, for CNY 224 million. The buyer should pay off the deal within 24 months after the industrial and commercial ...

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