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BRIEF-Wangfujing Group to invest 20 mln yuan to set up trading JV with partners
March 31, 2017 / 11:12 AM / in 4 months

BRIEF-Wangfujing Group to invest 20 mln yuan to set up trading JV with partners

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March 31(Reuters) - Wangfujing Group Co Ltd :

* Says it signed cooperate agreement with a Henan-based e-commerce firm and Beijing-based media firm on convenient store business

* It will invest 20 million yuan to set up a Beijing-based trading JV with the two partners

* The JV will be capitalized at 50 million yuan and the company will hold 40 percent stake in the JV after transaction

Source text in Chinese: goo.gl/X9E1yD

Further company coverage: (Beijing Headline News)

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