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Heilongjiang Agriculture Co Ltd to Acquire Equity Shares from CJ Corp

Tuesday, 26 Mar 2013 08:00pm EDT 

Heilongjiang Agriculture Co Ltd announced that it will cancel its plan of dissolving a joint venture, a Heilongjiang-based food technology company, which was established by the Company and CJ Corp. The Company will acquire a 49% stake in the joint venture from CJ Corp for USD 1 instead, to hold a 100% stake in the joint venture. The Company will also acquire a 51% stake in a Heilongjiang-based trading company from a Heilongjiang-based rice group for free, to increase its holdings to 100%.