Chang Chun Eurasia Group Co., Ltd. entered into an agreement to acquire an additional 41.38% stake in Xining Big Cross General Merchandise Shop Co., Ltd. from 288 individual shareholders for approximately CNY 130 million.
January 18, 2018
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Chang Chun Eurasia Group Co., Ltd. (SHSE:600697) entered into an agreement to acquire an additional 41.38% stake in Xining Big Cross General Merchandise Shop Co., Ltd. from 288 individual shareholders for approximately CNY 130 million on January 18, 2018. Under the terms of the transaction, Chang Chun Eurasia Group Co., Ltd. will acquire additional 40.4 million shares at CNY 3.2 per share. For the year ended December 31, 2017, Xining Big Cross General Merchandise Shop Co., Ltd. reported total assets of CNY 277.3 million, net assets of CNY 129.7 million, revenue of CNY 490.03 million, and net profit of CNY 11.2 million. The transaction has been approved by the Board of Chang Chun Eurasia Group Co., Ltd. on January 19, 2018.
Chang Chun Eurasia Group Co Ltd is a China-based company mainly engaged in modern department stores, commercial complexes and supermarket chains. The Company operates its businesses through five segments. The Shopping Mall segment, Large-scale Comprehensive Store segment and Chain Supermarket segment are mainly engaged in comprehensive department stores, the main products include food and department stores, home appliances, clothing and cosmetics and home furnishings. The Real Estate segment is mainly engaged in real estate development and property leasing. The Other segment is mainly engaged in property services, catering services and other businesses. The Company mainly operates its businesses in the domestic market.
Chang Chun Eurasia Group Co., Ltd. entered into an agreement to acquire an additional 41.38% stake in Xining Big Cross General Merchandise Shop Co., Ltd. from 288 individual shareholders for approximately CNY 130 million.
CHANG CHUN EURASIA GROUP CO., LTD. 
