Key Developments: China Resources Enterprise Ltd (0291.HK)

0291.HK on Hong Kong Stock

20.00HKD
16 Sep 2014
Price Change (% chg)

HK$-0.25 (-1.23%)
Prev Close
HK$20.25
Open
HK$20.20
Day's High
HK$20.45
Day's Low
HK$19.98
Volume
2,673,715
Avg. Vol
2,691,135
52-wk High
HK$27.90
52-wk Low
HK$19.14

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Latest Key Developments (Source: Significant Developments)

China Resources Enterprise Ltd declare interim dividend
Thursday, 21 Aug 2014 12:14am EDT 

China Resources Enterprise Ltd:Declare interim dividend of HK$0.11 per share for six months ended June 30, 2014, payable on or around Nov. 13 to shareholders whose names appear on register of members of company on Oct. 3.  Full Article

China Resources Enterprise Ltd announces completion of formation of joint venture with Tesco Plc
Wednesday, 28 May 2014 07:28pm EDT 

China Resources Enterprise Ltd:Refers to the announcement made on Oct. 02.Completion took place on May 28.The company and Tesco now holds 80 pct and 20 pct respective interests in the joint venture which in turn holds the retail business and the contributed business operations.  Full Article

China Resources Enterprise Ltd recommends final dividend
Thursday, 20 Mar 2014 12:12am EDT 

China Resources Enterprise Ltd:Recommends a final dividend of HK$0.14 per share (2012: HK$0.15 per share).Payable to shareholders whose names appear on the register of members after the close of business June 6.  Full Article

Tesco Plc Announces Signing Of Agreement Between Tesco And China Resources Enterprise Ltd
Wednesday, 2 Oct 2013 02:01am EDT 

Tesco PLC and China Resources Enterprise, Limited announced that they have entered into definitive agreements to combine their Chinese retail operations to form the multi-format retailer in China (the Joint Venture or JV). The Key highlights are; The JV combines Tesco's retail practices, international sourcing and digital/ecommerce capabilities with CRE's local knowledge and brand to create a business with sales approaching £10bn, in which Tesco will have a 20% stake; The JV will be the retailer in seven of the eight GDP provinces in China; Tesco will combine its 134 Chinese stores as well as its Chinese shopping mall business with the China Resources Vanguard business of 2,986 stores; The JV will secure synergies from combining the two operations; Tesco will make a cash contribution to the JV of HKD2,325m (c.£185m); Tesco will also make a payment of HK$1,000m (c.£80m) to CRE at completion and a further HK$1,000m (c.£80m) on the first anniversary of completion; Tesco will have two seats on the board of a maximum of 10 members; Completion is expected in the first half of 2014, subject to regulatory and CRE shareholder approval.  Full Article

SABMiller PLC's And China Resources Enterprise, Limited's Joint Venture Completes Acquisition Of Kingway Brewery Holdings Limited's Brewery Business
Monday, 16 Sep 2013 08:00pm EDT 

SABMiller PLC announced that China Resources Snow Breweries Limited, its joint venture with China Resources Enterprise, Limited, has completed the acquisition of the brewery business of Kingway Brewery Holdings Limited, following receipt of regulatory and Kingway shareholder approval.  Full Article

China Resources Enterprise Ltd Announces Interim Dividend
Wednesday, 21 Aug 2013 12:18am EDT 

China Resources Enterprise Ltd announced that the Board has resolved to declare an interim dividend of HKD0.13 per share for the six months ended June 30, 2013 (2012: HKD0.15 per share), payable on or around October 15, 2013 to shareholders whose names appear on the Register of Members of the Company on October 2, 2013.  Full Article

Tesco Plc And China Resources Enterprise Ltd Sign Memorandum Of Understanding To Create The Multi-format Retailer In China
Friday, 9 Aug 2013 02:00am EDT 

Tesco PLC and China Resources Enterprise, Limited announced that they have entered into a Memorandum of Understanding and are in exclusive talks to combine their Chinese retail operations to form the multi-format retailer in China. The partnership would bring together CRE's deep understanding of local customers, established nationwide infrastructure and track record as a partner with Tesco's global retail experience, international sourcing scale and supply chain capabilities. The proposed joint venture would create a business with sales of some £10bn, in which CRE and Tesco's effective interests are expected to be 80% and 20% respectively. The transaction is subject to further due diligence and agreement of final terms. There is no certainty that a transaction will occur.  Full Article

China Resources Enterprise Ltd And Others Eye Bids For LI'S Hong Kong Supermarkets-Reuters
Thursday, 25 Jul 2013 01:51am EDT 

Reuters reported that Aeon Co Ltd and China Resources Enterprise Ltd are among the suitors considering bids for the Hong Kong supermarket business being sold by billionaire Li Ka-shing. Hutchison Whampoa Ltd conglomerate has set an August 16, 2013 deadline for initial bids for the business, with an asking price of up to $4 billion, said the people, who declined to be identified because the sale process is confidential. Woolworths Ltd and Wesfarmers Ltd and China's Sun Art Retail Group Ltd are among the other suitors evaluating bids.  Full Article

China Resources Enterprise Ltd Recommends Final Dividend
Thursday, 21 Mar 2013 12:09am EDT 

China Resources Enterprise Ltd announced that the Board recommends a final dividend of HKD0.15 per share for 2012 (2011: HKD0.32 per share) payable on or around June 14, 2013 to shareholders whose names appear on the Register of Members of the Company on May 30, 2013. Together with the interim dividend of HKD0.15 per share, the total dividend for 2012 will amount to HKD0.30 per share (2011: HKD0.47 per share).  Full Article

SABMiller PLC's Joint Venture with China Resources Enterprise Ltd to Acquire for CNY 5.38 Billion Brewery Business from Kingway Brewery Holdings Ltd
Tuesday, 5 Feb 2013 05:55am EST 

SABMiller PLC announced that China Resources Snow Breweries Limited (Snow), SABMiller PLC's joint venture with China Resources Enterprise Ltd (CRE), has entered into an agreement with Kingway Brewery Holdings Ltd (Kingway) to acquire Kingway's brewery business (Brewery Business), for a total cash consideration of CNY 5.38 billion (USD 864.00 million). The Brewery Business comprises seven breweries in China and has total annual production capacity of 14.5 million hectoliters.  Full Article

UPDATE 2-China Resources Enterprise says Tesco JV turnaround to take 3-5 years

* Shares close down nearly 3 pct, lagging main index (Adds details on impact from Tesco tie-up, updates shares)

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