Shanghai Bailian Co., Ltd. cancelled the acquisition of remaining 10% stake in Shanghai Friendship Department Store Co., Ltd from Homemart Decoration Co., Ltd.
January 23, 2018
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Shanghai Bailian (Group) Co., Ltd. (SHSE:600827) signed a definitive agreement to acquire remaining 10% stake in Shanghai Friendship Department Store Co., Ltd from Homemart Decoration Co., Ltd. for CNY 22.1 million on January 23, 2017. In a related transaction, Shanghai Friendship Department Store Co., Ltd. agreed to acquire remaining 5% stake in Shanghai Friendship Department Store Changning Co., Ltd. from Homemart Decoration Co., Ltd. Shanghai Friendship Department Store Co., Ltd reported total assets of CNY 246.4 million and net assets of CNY 175.2 million as of May 31, 2016. The transaction is approved by the Board of Directors of Shanghai Bailian (Group) Co., Ltd.
Shanghai Bailian (Group) Co., Ltd. (SHSE:600827) cancelled the acquisition of remaining 10% stake in Shanghai Friendship Department Store Co., Ltd from Homemart Decoration Co., Ltd. on January 23, 2018.
Shanghai Bailian Group Incorporated Company is a China-based company principally engaged in department store operation. The Company operates general department stores, shopping centers, outlets, supermarkets, convenience stores, chain hypermarkets, specialty chain stores, chain construction material stores and others. Its main businesses include the operation of department stores, supermarkets, shopping centers and outlets. The Company mainly operates businesses in domestic markets.
Shanghai Bailian Co., Ltd. cancelled the acquisition of remaining 10% stake in Shanghai Friendship Department Store Co., Ltd from Homemart Decoration Co., Ltd.
SHANGHAI BAILIAN (GROUP) CO., LTD. 
