Tonghua Grape Wine Terminates Restructuring Plan - ResearchInChina

Date:2011-08-10liuhongli  Text Size:

August 1 -- Tonghua Grape Wine (600365) suspended its asset restructuring plan, reports, citing a company filing.

According to a previous filing, Tonghua Grape Wine intends to privately issue shares to Crosston International Investment to acquire its wine assets, including Yunnan Gaoyuan Grape Wine, Yunnan Gaoyuan Biological Resources Development, Kunming Yunnan Grape Wine Development and Yunnan Hongjiuzhuang Grape Wine.

However, Crosston International Investment later allocated dividend to its subsidiaries, changing the estimated value of the acquired targets.


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