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Bros Eastern Co Ltd and Subsidiaries to Transfer Equity Shares


Friday, 10 May 2013 08:00pm EDT 

Bros Eastern Co Ltd announced that it will transfer a 51% and a 49% stake in an Asuke-based cotton textile company respectively to a Xinjiang-based cotton company (Company A) and L&H COTTON AUSTRALIA PTY LTD, for RMB 29,580,000 and RMB 28,420,000. The Company's two wholly owned subsidiaries, a Ningbo-based textile company and a Maitigai-based cotton company, will also respectively transfer a 100% stake in a Shaya County-based cotton company and a 100% stake in a Weili COunty-based cotton company to Company A, for RMB 47,182,000 and RMB 24,000,000.