Sichuan Commercial Investment Co., Ltd. agreed to acquire 10% stake in Chengdu Hongqi Chain Co.,Ltd. from Yonghui Superstores Co., Ltd. for approximately CNY 800 million.
December 20, 2023
Share
Sichuan Commercial Investment Co., Ltd. agreed to acquire 10% stake in Chengdu Hongqi Chain Co.,Ltd. (SZSE:002697) from Yonghui Superstores Co., Ltd. (SHSE:601933) for approximately CNY 800 million on December 21, 2023. The transaction is unanimously approved by board of directors of Yonghui Superstores Co., Ltd. As on December 29, 2023 Transaction has already been approved by Yonghui Superstores's shareholders.
Chengdu Hongqi Chain Co., Ltd. is a China-based company principally engaged in the operation of regular chain supermarkets. The Company mainly provides daily-used products, cigarettes, wines, food, grains, oil, beverages, clothing, shoes, hats and textiles and others. The Company also provides autobus card recharging service, ticket consignment service, payment of telecommunication and natural gas fee, as well as electronic payment service. The Company conducts its businesses mainly in Sichuan Province, China.
Sichuan Commercial Investment Co., Ltd. agreed to acquire 10% stake in Chengdu Hongqi Chain Co.,Ltd. from Yonghui Superstores Co., Ltd. for approximately CNY 800 million.