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Wuliangye mulls acquisition of 5 affiliate companies from parent

Source :China Knowledge          update : 2009-02-25

Chinese liquor maker Wuliangye Yibin Co Ltd<000858> will acquire five affiliate companies from its parent Wuliangye Group Co Ltd for approximately RMB 3.8 billion, according to the company's filing with the Shenzhen Stock Exchange on Monday.

The Shenzhen-listed company plans to buy three companies under China Sichuan Yibin Push Group Co Ltd and two firms of Global Group Co Ltd in Yibin.

The move is seen as part of the parent group's plan of integrating all the liquor making-related assets into the listed unit by 2010.