Wangfujing to abandon the acquisition of Baer at the termination of a major asset restructuring

January 20th, Wangfujing group Limited by Share Ltd (hereinafter referred to as the "Wangfujing") announced to abandon the acquisition of the controlling shareholder of Beijing Wangfujing International Business Development Co. Ltd. (hereinafter referred to as the "Wangfujing international") held by the Limited Hong Kong Company (Belmont English Monte Baer Hong Kong Ltd., hereinafter referred to as the "Monte Baer") 100% stake.

Wangfujing said that since the start of this major asset restructuring, the company and the parties are actively promoting the restructuring of the relevant work. Now in view of the relevant matters to be demonstrated, continue to promote the reorganization of the uncertainty. After consultation with the company and Wangfujing, decided to terminate this major asset restructuring.

view of Wangfujing is planning to acquire the Xi’an international medical investment Limited by Share Ltd holdings Kaiyuan Commercial Company Limited 100% equity matters, the stock continued suspension.

the acquisition began in October 2016, the announcement shows that the transaction does not involve the issue of shares. Before the transaction, Beijing Wangfujing Dongan Refco Group Ltd (hereinafter referred to as the "Wangfujing of Dongan") in July 2007 to become the actual controller of the listed company, the controlling shareholders of Listed Companies in June 2007, renamed the Wangfujing international.

‘s Baer at Wangfujing international is a business Property Investment Companies with investment, financing and equity management as the main business. Its investment entities are in mainland China, and through the subsidiary of Pcd Stores Group Ltd for the management of these entities.

by the end of June 30, 2016, Baer by way of the establishment, acquisition of Montreal, directly or indirectly controlled by a subsidiary of a total of 33, which has 11 stores, Oteri J 2, set up department chain network in Beijing, Guiyang, Liupanshui, Shenyang, Xiamen, Zunyi city.

data show that the current operation of the store in Wangfujing, covering the North China, central China, Southern China, southwest, northwest, East China 6 large areas. From the number, each region of the storefront business construction area, Western and northern regions is the main business in the territory of distribution, the South market is still in the development stage, especially in the Guizhou area of business is still blank.

and Wangfujing’s Guiyang international retail business sector in the Guizhou area have high visibility, has been formed including the regional commercial chain store in China World Trade Center, Guiyang Zunyi China World Trade Center store, Guizhou store, Guiyang South China Chen Hua Jin China World Trade Center shop, TPMALL shop, Liupanshui China World Trade Center shop, shop city plaza.

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