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Article: WANGFUJING TO ACQUIRE XINHUA DEPARTMENT STORE

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AsiaInfo Services
Article date:
September 28, 2007
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AsiaInfo Services
09-28-2007
Wangfujing to Acquire Xinhua Department Store

YINCHUAN, Sep 28, 2007 (SinoCast via COMTEX) -- Beijing Wangfujing Department Store (Group) Co., Ltd. (600859) is talking with Ningxia Yinxiang Real & Estate Development Co., Ltd. about the acquisition for Xinhua Department Store for more than CNY 300 million in end-2007.

Wangfujing hopes to march into the retail industry of the northwest Ningxia Autonomous Region via this way.

Covering an area of 17,000 square meters, Xinhua Department Store is a two-floor enclosed wholesale and retail market on the Xinhua Street of Yinchuan, the capital city of Ningxia.

According to the former plan of its operator, the department ...

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