Tonghua Grape Wine Co.,Ltd agreed to acquire remaining 49% stake in Beijing Jiurunyuan E-commerce Co., Ltd. from Wu Yuhua and Chen Xiaoqi for approximately CNY 270 million.
March 22, 2021
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Tonghua Grape Wine Co.,Ltd (SHSE:600365) agreed to acquire remaining 49% stake in Beijing Jiurunyuan E-commerce Co., Ltd. from Wu Yuhua and Chen Xiaoqi for approximately CNY 270 million on March 23, 2021. Under the terms, the consideration will be paid in cash and debt. Beijing Jiurunyuan reported total assets of CNY 466.2 million and net assets of CNY 144.2 million for the year ended September 2020. The transaction is subject to approval from shareholders of Tonghua Grape. The transaction has been approved by the Board of Tonghua Grape.
Tonghua Grape Wine Co Ltd is a China-based company principally engaged in the manufacturing and sales of fruit wine and wine. The Company's products cover dry wine, ice wine, sweet wine, grape spirits and other categories. Through its subsidiaries, the Company is engaged in e-commerce retail and online marketing services, mainly selling consumer goods. The Company's brands include Hongmei, Tonghua, Yashizun, Tianchi, among others. The Company mainly conducts its businesses in the domestic market.
Tonghua Grape Wine Co.,Ltd agreed to acquire remaining 49% stake in Beijing Jiurunyuan E-commerce Co., Ltd. from Wu Yuhua and Chen Xiaoqi for approximately CNY 270 million.