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Article: LUONIUSHAN TO SELL NON-CORE BUSINESSES
- Article from:
- AsiaInfo Services
- Article date:
- December 5, 2008
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AsiaInfo Services
12-05-2008
Luoniushan to Sell Non-core Businesses
HAIKOU, Dec 05, 2008 (SinoCast Daily Business Beat via COMTEX) -- Haikou Agricultural & Industry & Trade (Luoniushan) Co., Ltd. (Luoniushan) says today that it plans to sell stakes in a poultry company and a chicken breeding firm for CNY 28.321 million, in a bid to focus on developing its major businesses.
Luoniushan will sell the 100% stake in Haikou Luoniushan Poultry Company for CNY 20.7986 million and a 60% stake in Hainan Luoniushan Wenchang Chicken Company for CNY 7.52275 million to Tanniu Wenchang Chicken Company.
Luoniushan expects to get proceeds of CNY 1.76 million from the sales. It says that profitability ...
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