April 10, 2017 / 12:09 AM / 4 months ago

BRIEF-China Innovationpay Group says it entered into loan agreement with Youzan

April 10 (Reuters) - China Innovationpay Group Ltd

* Beijing Gaohuitong and Hangzhou Youzan entered into third party payment services framework agreement

* Deal pursuant to which company has conditionally agreed to grant to youzan an unsecured loan facility up to hk$200 million

* Company entered into loan agreement with youzan

* Directors intended proceeds from loan to support business plan and development of Youzan upon completion of acquisition. Source text for Eikon: Further company coverage:

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