Kuaijishan Shaoxing Wine Co., Ltd. acquired 14.78% stake in Zhejiang Pagode Brand Shaoxing Rice Wine Co., Ltd. from Shaoxing Kenlida Textile Co., Ltd. for approximately CNY 160 million.
January 03, 2017
Share
Kuaijishan Shaoxing Wine Co., Ltd. (SHSE:601579) won the bid to acquire 14.78% stake in Zhejiang Pagode Brand Shaoxing Rice Wine Co., Ltd. from Shaoxing Kenlida Textile Co., Ltd. for approximately CNY 160 million on December 29, 2016. Under the terms of the transaction, Kuaijishan Shaoxing Wine Co., Ltd. will acquire 11.82 million shares in Zhejiang Pagode Brand Shaoxing Rice Wine Co., Ltd. On January 3, 2016 Kuaijishan Shaoxing Wine Co., Ltd. deposited the transaction price of approximately 160 million into the court designated account, pursuant to relevant provisions. Zhejiang Pagode Brand Shaoxing Rice Wine Co., Ltd. had total assets of CNY 1.5 billion, net assets of CNY 336.5 million, revenue of CNY 439 million and net profit of CNY 14.5 million as on December 31, 2016.
Kuaijishan Shaoxing Rice Wine Co., Ltd., formerly Kuaijishan Shaoxing Wine Co., Ltd. is a China-based company principally engaged in the Chinese spirit business. The Company mainly operates its business through research and development (R&D), production and sale of Shaoxing yellow spirits. The Companyâs products portfolio consists of midrange and high-end bottled Shaoxing yellow spirits, ordinary bottled Shaoxing yellow spirits and bottled Shaoxing yellow spirits base liquors, among others. The Company provides its products under the brand name of Kuajishan. It distributes its products within domestic market and to overseas markets, including Japan, Singapore, Hong Kong, Macau and others.
KUAIJISHAN SHAOXING RICE WINE CO., LTD. 
