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Article: JIUGUI LIQUOR AGREES TO BUY 26% LIXINYUAN REAL ESTATE STAKE

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AsiaInfo Services
Article date:
July 1, 2009
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AsiaInfo Services
07-01-2009
Jiugui Liquor Agrees to Buy 26% Lixinyuan Real Estate Stake

SHENZHEN, Jul 01, 2009 (SinoCast Daily Business Beat via COMTEX) -- Jiugui Liquor Co., Ltd. (SZSE: 000799) has agreed to spend around CNY 2.25 million buying a 26% stake in Hunan Lixinyuan Real Estate Development Co., Ltd. from Shanghai Hengyuan Investment Management, announced the Shenzhen-listed liquor brewer on June 30.

Jiugui Liquor is expected to become a director controller of the Changsha-headquartered real estate developer after the deal, with its holdings increasing to 75%, according to the liquor company.

The deal will enable Jiugui Liquor to make full use of its existing land resources, get ...

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