China Huiyuan Juice says to buy $631 mln asset from parent

HONG KONG Thu May 23, 2013 8:09pm EDT

HONG KONG May 24 (Reuters) - China Huiyuan Juice Group Ltd said it would buy a fruit juice concentrates supplier from controlling shareholder China Hui Yuan Juice Holdings Co Ltd for HK$4.9 billion ($631.17 million) to secure key raw materials and generate new revenues.

The Chinese fruit juice beverages producer will buy China Huiyuan Industry Holding Ltd in a deal to be settled partly in cash and an issue of HK$3.4 billion worth of new shares and convertible preference shares, it said in a filing to the Hong Kong bourse late on Thursday

For the statement click here ($1 = 7.7633 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Stephen Coates)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video