Article: HUALIAN HYPERMARKET TO BUY 4.8% OF HUALIAN FINANCE


AsiaInfo Services
05-12-2009
Hualian Hypermarket to Buy 4.8% of Hualian Finance

SHANGHAI, May 12, 2009 (SinoCast Daily Business Beat via COMTEX) -- Beijing Hualian Hypermarket Co., Ltd. (SHSE: 600361) has entered into an agreement to spend CNY 28.7131 million buying a 4.8% stake in Hualian Finance Co., Ltd., announces the Shanghai-listed department store operator on May 12.

The deal will enable Hualian Hypermarket to strengthen its financial management, step up its capital utilization efficiency, and ramp up its investment income, according to the Beijing-headquartered company, which has already had a 19.80% stake in Hualian Finance.

With a registered capital of CNY 500 million, Hualian ...

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