Beijing Urban-Rural Trade Centre Co., Ltd. agreed to acquire additional 26.9% stake in Beijing Urban-Rural Tourism Car Rental Co., Ltd. from Beijing Suburban Tourism Development Company for CNY 5.7 million.
January 20, 2017
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Beijing Urban-Rural Trade Centre Co., Ltd. (SHSE:600861) agreed to acquire additional 26.9% stake in Beijing Urban-Rural Tourism Car Rental Co., Ltd. from Beijing Suburban Tourism Development Company for CNY 5.7 million on January 19, 2017. Post completion, Beijing Urban-Rural Trade Centre Co., Ltd. will hold 75.9% stake while Beijing Suburban Tourism Development Company will not hold any stake in Beijing Urban Trade Property Management Co., Ltd. In the related deals, Beijing Urban-Rural Trade Centre Co., Ltd agreed to acquire additional 55% stake in Beijing Urban Trade Property Management Co., Ltd., additional 49% stake in Beijing Urban-Rural Yanjing Trade Co., Ltd. and 100% stake in Beijing Xinhua International Tours Co., Ltd. from Beijing Suburban Tourism Development Company. As of September 30, 2016, Beijing Urban-Rural Tourism Car Rental Co., Ltd. reported total assets of CNY 38.1 million and net assets of CNY 18.6 million. The Board of Directors of Beijing Urban-Rural Trade Centre Co., Ltd. approved the deal. This transaction needs to be approved by the State-owned Assets Supervision and Administration Commission of People’s Government of Beijing Municipality and the shareholders of Beijing Urban-Rural Trade Centre Co., Ltd. The shareholders of Beijing Urban-Rural Trade Centre approved the transaction on February 6, 2017.
FESCO Group Co Ltd, formerly Beijing Urban-Rural Commercial Group Co Ltd, is a China-based company mainly provides human resources services. The Company mainly provides client companies with one-stop, comprehensive human resources service solutions such as personnel management services, salary and welfare services, business outsourcing services, recruitment and flexible employment services. Its personnel management services mainly include basic personnel management services and labor dispatch services. Its salary and welfare services mainly include salary and tax management services, employee flexible welfare care services and health management services. Its recruitment and flexible employment services mainly include flexible employment services, recruitment services and recruitment process outsourcing services. Other services include human resources management consulting, legal consulting, background checks and others. The company mainly operates in the domestic market.
Beijing Urban-Rural Trade Centre Co., Ltd. agreed to acquire additional 26.9% stake in Beijing Urban-Rural Tourism Car Rental Co., Ltd. from Beijing Suburban Tourism Development Company for CNY 5.7 million.
FESCO GROUP CO., LTD. 
