CROWNICORP (00727) released an announcement stating that the company's wholly-owned subsidiary Crown Finance H...
According to the news from the Zhitong Finance APP, CROWNICORP (00727) announced that its wholly-owned subsidiary Crown Finance Holdings Limited (CFH) has signed a non-binding memorandum of understanding with China Baijiu Group Holdings Limited (China Baijiu Group), under which, subject to the finalization and signing of the Equity Transfer Agreement by both parties, CFH intends to acquire 100% equity of SiChuan Tianfu Jinpen Di Liquor Industry Group Co., Ltd. (the symbol company) held by China Baijiu Group.
The symbol company has been engaged in the production and sale of premium Baijiu in China for many years. Given the strong potential of premium Baijiu in both Chinese and global markets, this acquisition will strongly promote the development of the group's premium Baijiu business.