Monday, 30 May 2011 08:00pm EDT
Zhejiang Shenghua Biok Biology Co., Ltd announced that its subsidiary, a Zhejiang-based chemical industrial company, will acquire a 11% stake in a Ningxia-based precise chemical industrial company from a Shanghai-based precise chemical industrial company at RMB 2,433,200, and also acquire a 19.67% stake and a 3.33% stake respectively from a Ningxia-based textile development group company and Wang Zhixiang, at RMB 4,387,300 and RMB 0.65 million. After that, the subsidiary will hold a 73% stake in the target company.
 

Source:Reuters