China Resources to finish acquiring textile and distribution business

Ning Gaoning, chairman of China Resources Enterprises (0291), said in the morning that the company would finish acquiring the textile and distribution business from its parent company China Resources National Corporation at the end of July. The acquisition consideration was estimated to be HK$2 bln, which would be financed in cash, but the final price was not decided yet. As for selling HKCB Bank Holding (0655), he said the talks were already terminated for no buyers were available.

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