Beijing Urban-Rural Trade Centre Co., Ltd. agreed to acquire Beijing Xinhua International Tours Co., Ltd. from Beijing Suburban Tourism Development Company for CNY 7.5 million.
January 19, 2017
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Beijing Urban-Rural Trade Centre Co., Ltd. (SHSE:600861) agreed to acquire Beijing Xinhua International Tours Co., Ltd. from Beijing Suburban Tourism Development Company for CNY 7.5 million on January 19, 2017. In related deals, Beijing Urban-Rural Trade Centre Co., Ltd. agreed to acquire 26.9% stake in Beijing Urban-Rural Tourism Car Rental Co., Ltd., 55% stake in Beijing Urban Trade Property Management Co., Ltd. and 49% stake in Beijing Urban-Rural Yanjing Trade Co., Ltd from Beijing Suburban Tourism Development Company. As of September 30, 2016, Beijing Xinhua International Tours Co., Ltd. reported total assets of CNY 31.9 million and net assets of CNY 7.1 million.
The transaction needs to be approved by the State-owned Assets Supervision and Administration Commission of People’s Government of Beijing Municipality and the shareholders of Beijing Urban-Rural Trade Centre Co., Ltd. The Board of Directors of Beijing Urban-Rural Trade Centre Co., Ltd. approved the transaction on January 19, 2017. As of February 6, 2017, the transaction has been approved by the shareholders of Beijing Urban-Rural Trade Centre Co., Ltd.
FESCO Group Co Ltd, formerly Beijing Urban-Rural Commercial Group Co Ltd, is a China-based company mainly provides human resources services. The Company mainly provides client companies with one-stop, comprehensive human resources service solutions such as personnel management services, salary and welfare services, business outsourcing services, recruitment and flexible employment services. Its personnel management services mainly include basic personnel management services and labor dispatch services. Its salary and welfare services mainly include salary and tax management services, employee flexible welfare care services and health management services. Its recruitment and flexible employment services mainly include flexible employment services, recruitment services and recruitment process outsourcing services. Other services include human resources management consulting, legal consulting, background checks and others. The company mainly operates in the domestic market.
Beijing Urban-Rural Trade Centre Co., Ltd. agreed to acquire Beijing Xinhua International Tours Co., Ltd. from Beijing Suburban Tourism Development Company for CNY 7.5 million.
FESCO GROUP CO., LTD. 
