China Holdings Inc (CHHL)

[CaptainD2u]

Taiwan's Uni-President units to set up jv for food sector investments in China
Monday 06/30/2008 10:44 PM ET - Xinhua Financial News

Uni-President Enterprises Corp (1216.TW) said its units have entered into an agreement with other parties to set up a joint venture that will invest in non-listed food and beverage firms in China.

Zhengzhou President Enterprises Co Ltd and Chengdu President Enterprises Food Co Ltd -- both wholly owned by the Taiwanese firm's Hong Kong-listed unit Uni-President China Holdings Ltd (220.HK) -- will invest a total of 245 mln yuan in the venture named China F&B Venture Investments, according to a statement from Uni-President Enterprises.

The investment will give the two China units a combined stake of 39.74 pct in the venture that will be capitalized at 616.5 mln yuan.

Separately, Uni-President China Holdings said in a filing with the Hong Kong stock exchange that other shareholders of the venture include Cayman Islands-incorporated Greater China F&B Capital Partners Ltd, which will take 1.05 pct stake.

Hong Kong-incorporated Greater China F&B (Hong Kong) Pvt Ltd will own 42.98 pct of the prospective venture, while an independent third party will take the remaining shares.

At 10.30 am, Uni-President Enterprises shares were up 0.40 twd or 1.10 pct at 36.90.

(1 usd = 30.40 twd)

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