Nanjing Red Sun Eyes Argentina’s Ruralco

 

Via www.globaltimes.cn

Nanjing Red Sun has rolled out a two-step plan to acquire 60 percent of Argentina-based agriculture products producer Ruralco in a deal valued at about $23 million, according to a statement the Chinese company sent to the Shenzhen Stock Exchange on Tuesday.

Initially, Red Sun, based in Nanjing, capital of East China’s Jiangsu Province, would buy a 26.67 percent stake in Ruralco from five individual shareholders by paying $8 million, the statement noted.

Red Sun would inject “physical products” worth $15 million to increase its capital in Ruralco.

 

Read more…

Editorial Team

Our Editorial Team curates "news you can use" from hundreds of local newspapers, magazines, blogs and online sources, press releases, radio and TV news shows from around the world. We take great pride in being providing Daily Business Intelligence that's all business and no politics.