Wuhan Shanglian Co., Ltd., Wuhan Economic Development and Investment Co., Ltd. and Wuhan State-owned Assets Management Co., Ltd. completed the transaction for an additional 1.9% stake in Wuhan Department Store Group Co., Ltd. from Intime Department Store Group Company Ltd for approximately CNY 200 million.
July 23, 2012
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Wuhan Shanglian (Group) Co., Ltd., Wuhan Economic Development and Investment (Group) Co., Ltd. and Wuhan State-owned Assets Management Co., Ltd. made an offer to acquire additional 5% stake in Wuhan Department Store Group Co., Ltd. (SZSE:000501) from Intime Department Store Group Company Ltd (SEHK:1833) for approximately CNY 540 million on August 2, 2011. Wuhan Shanglian and Wuhan Economic Development and Investment will acquire 1.86% each and Wuhan State-owned Assets will acquire 1.28% stake in Wuhan Department Store and will together acquire a total of 25.4 million shares of Wuhan Department Store. A deposit of CNY 107.6 million has been paid for the share purchases. The transaction is subject to approval from the China Securities Regulatory Commission. As on June 20, 2012, the transaction has been approved by China Securities Regulatory Commission.
Wuhan Shanglian (Group) Co., Ltd., Wuhan Economic Development and Investment (Group) Co., Ltd. and Wuhan State-owned Assets Management Co., Ltd. completed the transaction for an additional 1.9% stake in Wuhan Department Store Group Co., Ltd. (SZSE:000501) from Intime Department Store Group Company Ltd (SEHK:1833) for approximately CNY 200 million on July 24, 2012.
Wushang Group Co Ltd, formerly Wuhan Department Store Group Co Ltd, is a China-based company mainly engaged in merchandise sales business in shopping malls and supermarkets. The Company operates through department stores and supermarket chains. The Company is also engaged in real estate business. The Company mainly sells fruits and vegetables, livestock products, aquatic products, daily ingredients, grain and oil, seasonings, leisure food, beverages, cosmetic washing, shoes and hats, needle cotton, leisure department stores and other commodities. The Company mainly conducts its businesses in Hubei Province, China.
Wuhan Shanglian Co., Ltd., Wuhan Economic Development and Investment Co., Ltd. and Wuhan State-owned Assets Management Co., Ltd. completed the transaction for an additional 1.9% stake in Wuhan Department Store Group Co., Ltd. from Intime Department Store Group Company Ltd for approximately CNY 200 million.
WUSHANG GROUP CO., LTD. 
