BEIJING, May 28 (Xinhua) - Ccoop Group announced on Sunday that the company plans to purchase 70 percent equity of Yuan Cheng Logistics for about 4.34 billion yuan, the Xinhua-run Shanghai Securities News reported.
After the completion of this transaction, HNA Retailing will still remain the controlling shareholder of Yuan Cheng Logistics.
The transaction will help Ccoop to further improve its distribution of the logistics network in commodity circulation services, and form a logistics service network.
(Edited by Yang Yifan, yangyifan@xinhua.org)
A single purchase
