V V Food & Beverage (SHSE: 600300), buying 51% of Zhijiang Liquor at CNY 348 million in 2009, will re-spend CNY 240 million buying a 20% stake in the latter from four veterans to lift its holding to 71%.
Meanwhile, other three veterans except Jiang Hongxing will sell all shares he holds in Zhijiang Liquor this time.
After the move, V V will hold 71% of Zhijiang Liquor, the finance bureau of Zhijiang will hold a 19% stake and Jiang Hongxing will still hold a 10% stake.
Source:
http://www.sinocast.com/readbeatarticle.do?id=99253
