Maoye Commercial Co., Ltd. agreed to acquire Chongqing Maoye Department Store Co., Ltd. from Zhongzhao Investment Management Company Limited and Maoye Department Stores Limited for approximately CNY 400 million.
January 25, 2018
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Maoye Commercial Co., Ltd. (SHSE:600828) agreed to acquire Chongqing Maoye Department Store Co., Ltd. from Zhongzhao Investment Management Company Limited and Maoye Department Stores (China) Limited for approximately CNY 400 million on January 25, 2018. Under the transaction, Zhongzhao Investment Management Company Limited and Maoye Department Stores (China) Limited will sell 35% and 65% stake respectively. The transaction is subject to shareholders approval of Maoye Commercial Co., Ltd. As on January 25, 2018, transaction has been approved by the Board of Maoye Commercial Co., Ltd. On February 12, 2018, shareholders of Maoye Commercial Co., Ltd. approved the transaction.
Maoye Commercial Co Ltd is a China-based company principally engaged in commercial retail, property leasing and hotel businesses. The Company operates its businesses through four segments, including Southwest segment, South China segment, Northwest segment and Taizhou segment. The Company is engaged in commercial retail, property leasing and hotel businesses in these four segments. The Company mainly operates its businesses in the domestic market.
Maoye Commercial Co., Ltd. agreed to acquire Chongqing Maoye Department Store Co., Ltd. from Zhongzhao Investment Management Company Limited and Maoye Department Stores Limited for approximately CNY 400 million.
MAOYE COMMERCIAL CO., LTD. 
