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Article: Xinyu Hengdeli (HKG:3389) Acquires Taiwan Jing Guang Timepiece To Further Strengthen its Retail Platform in Greater China Region
- Article from:
- abnnewswire.net
- Article date:
- October 13, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Xinyu Hengdeli Holdings Limited ("Xinyu Hengdeli" or the "Company" and its subsidiaries, the "Group"; HKG:3389), a leading enterprise engaged in retail and distribution sales of renowned international watch brands in China, today announces that its wholly-owned subsidiary Taiwan Hengdeli Limited has entered into a purchase agreement with Taiwan Jing Guang Timepiece Holdings Limited, a watch importer and retailer in Taiwan, as well as its major shareholder Lee's Family. Xinyu Hengdeli will acquire 80% of the equity interests of Taiwan Jing Guang Timepiece to further strengthen its retail platform in the Greater China region.
The total consideration of this acquisition is HK$48,000,000, ...