Hangzhou Commerce & Tourism Group Co., Ltd. completed the acquisition of an additional 11.44% stake in Hangzhou Jiebai Group Co., Limited from Hangzhou Commercial Asset Management Co., Ltd.
June 27, 2020
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Hangzhou Commerce & Tourism Group Co., Ltd. signed a letter to acquire an additional 11.44% stake in Hangzhou Jiebai Group Co., Limited (SHSE:600814) from Hangzhou Commercial Asset Management Co., Ltd. for nil consideration on March 4, 2020. As of April 16, 2020, Hangzhou Commerce & Tourism Group Co., Ltd. signed a supplementary agreement to acquire an additional 11.44% stake in Hangzhou Jiebai Group from Hangzhou Commercial Asset Management Co., Ltd. As part of the acquisition, Hangzhou Commerce & Tourism Group Co., Ltd. will acquire 81.8 million shares of Hangzhou Jiebai Group. Post the acquisition, Hangzhou Commerce & Tourism Group Co., Ltd. will hold 488.1 million shares, representing 68.26% stake of Hangzhou Jiebai Group.
Hangzhou Commerce & Tourism Group Co., Ltd. completed the acquisition of an additional 11.44% stake in Hangzhou Jiebai Group Co., Limited (SHSE:600814) from Hangzhou Commercial Asset Management Co., Ltd. on June 28, 2020.
HANGZHOU JIEBAI GROUP CO., LIMITED. is a China-based company, principally engaged in the merchandise wholesale and retail businesses. The Company mainly operates department stores and shopping malls. Through its subsidiaries, the Company is also engaged in the design and production of advertisements. It conducts its businesses mainly within domestic markets.
Hangzhou Commerce & Tourism Group Co., Ltd. completed the acquisition of an additional 11.44% stake in Hangzhou Jiebai Group Co., Limited from Hangzhou Commercial Asset Management Co., Ltd.
HANGZHOU JIEBAI GROUP CO., LIMITED 
