Article: ZHEJIANG COMMERCIAL GROUP TO CONTROL HUNAN AVA


AsiaInfo Services
05-12-2008
Zhejiang Commercial Group to Control Hunan Ava

HANGZHOU, May 12, 2008 (SinoCast via COMTEX) -- Zhejiang-based big state-owned company Zhejiang Commercial Group will become the effective controller of Hunan Ava Holdings Co., Ltd. (SZSE: 000918), a Changsha-based agriculture company.

In detail, Zhejiang Commercial Group will infuse more than CNY 4.5 billion quality property assets into Hunan Ava to turn the latter into a real estate-oriented company. The move is an effort to enhance the long-term profitability and the assets quality of the Shenzhen-listed company.

Most of Hunan Ava's assets will be taken over by CITIC, Yuan Longping High-tech Agriculture Co., Ltd. ...

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