Wangfujing Group Co., Ltd. cancelled the acquisition of Belmont Hong Kong Ltd. from Beijing Wangfujing International Commercial Development Co., Ltd.
January 18, 2017
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Wangfujing Group Co., Ltd. (SHSE:600859) agreed to acquire Belmont Hong Kong Ltd. from Beijing Wangfujing International Commercial Development Co., Ltd. for CNY 5.4 billion on November 1, 2016. Under the terms of the transaction, Wangfujing Group Co., Ltd. will pay CNY 5.37 billion including Belmont's CNY 2.2 billion debts.
Wangfujing Group Co., Ltd. (SHSE:600859) cancelled the acquisition of Belmont Hong Kong Ltd. from Beijing Wangfujing International Commercial Development Co., Ltd. on January 19, 2017.
Wangfujing Group Co., Ltd., formerly Beijing Wangfujing Department Store (Group) Co., Ltd., is a China-based company, principally engaged in general merchandise retailing business. The Company operates and manages general department stores, which deal with commodities such as apparels, food, footwear, hats, cosmetics, bedding products and general merchandise, among others. The Company is also engaged in the property leasing business. The Company operates its business through domestic markets.
WANGFUJING GROUP CO., LTD. 
