May 16, 2017 / 11:45 AM / 2 months ago

BRIEF-Red Star Macalline Group's unit enters share swap agreement

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May 16 (Reuters) - Red Star Macalline Group Corp Ltd

* Yantai Red Star and Red Star Management, a direct wholly-owned subsidiary of company, entered into share swap agreement

* Yantai Red Star agreed to sell and Red Star Management agreed to acquire 100% equity interests in Zhengzhou Juankai for consideration of RMB2.65 billion

* Group does not expect to generate any proceeds or recognise any substantial gain or loss in relation to this transaction Source text for Eikon: Further company coverage:

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