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)

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