Chongqing Department Store Co.,Ltd. completed the acquisition of Chongqing Better Life Zhonghuang Commercial Management and Chongqing Hechuan District Better Life Baochuan Real Estate Co., Ltd. of Better Life Investment Group Co., Ltd.
December 30, 2020
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Chongqing Department Store Co.,Ltd. (SHSE:600729) entered into asset purchase agreement to acquire Chongqing Better Life Zhonghuang Commercial Management and Chongqing Hechuan District Better Life Baochuan Real Estate Co., Ltd. of Better Life Investment Group Co., Ltd. for approximately CNY 660 million on June 29, 2020. As per terms of transaction, Chongqing Department Store Co.,Ltd. will acquire Chongqing Hechuan District Better Life Baochuan Real Estate Co., Ltd. for approximately CNY 640 million and Chongqing Better Life Zhonghuang Commercial Management Co., Ltd. for approximately CNY 13 million. As on May 31, 2020, Chongqing Better Life Zhonghuang Commercial Management Co., Ltd. reported total assets of CNY 34.1539 million. As on May 31, 2020, Chongqing Hechuan District Better Life Baochuan Real Estate Co., Ltd. reported total assets of approximately CNY 650 million. Transaction is approved by board of Chongqing Department Store Co.,Ltd. Transaction is subject to shareholder approval Chongqing Department Store Co.,Ltd. Transaction is subject to approval of board of directors and shareholder of Better Life Investment Group Co., Ltd. As on August 10, 2020, the transaction is approved by shareholders of Chongqing Department.
Chongqing Department Store Co.,Ltd. (SHSE:600729) completed the acquisition of Chongqing Better Life Zhonghuang Commercial Management and Chongqing Hechuan District Better Life Baochuan Real Estate Co., Ltd. of Better Life Investment Group Co., Ltd. in December 2020.
Chongqing Department Store Co Ltd is a China-based company mainly engaged in the department store and supermarket business. The Company's segments include Department Stores Segment, Supermarkets Segment, Electrical Appliances Segment, Automobile Trading Segment and Real Estate and Engineering Segment. The Company's business involves comprehensive department stores, shopping malls, boutique supermarkets, supermarkets, electrical appliance stores, automobile trade brand stores and others. The Company owns trademarks and commercial brands such as âChongqing Department Store', New Century Department Store', 'Shangshe Electrical Appliancesâ, and âShangshe Automobile Tradeâ. The Company operates its business in domestic market.
Chongqing Department Store Co.,Ltd. completed the acquisition of Chongqing Better Life Zhonghuang Commercial Management and Chongqing Hechuan District Better Life Baochuan Real Estate Co., Ltd. of Better Life Investment Group Co., Ltd.
CHONGQING DEPARTMENT STORE CO.,LTD. 
