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BRIEF-Shenzhen Wongtee International Enterprise to acquire 80 pct stake in Tianjin-based financial leasing firm
July 21, 2017 / 8:15 AM / 2 months ago

BRIEF-Shenzhen Wongtee International Enterprise to acquire 80 pct stake in Tianjin-based financial leasing firm

July 21(Reuters) - Shenzhen Wongtee International Enterprise Co Ltd

* Says co plans to acquire 70 percent stake of Promising International Financial Leasing Co.,Ltd. (target company) from a Beijing-based investment company at the price of 188.6 million yuan

* Says co will take over 112 million yuan debts of Beijing-based investment company’s in target company

* Says co plans to acquire 30 percent stake of target company from PROMISING HOLDINGS (HK) CO., LIMITED

* Says co plans to transfer 20 percent stake of target company to management of target company

* Says co and management of target company will hold a 80 percent stake and a 20 percent stake in the target company respectively

Source text in Chinese: goo.gl/pRFweN

Further company coverage: (Beijing Headline News)

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