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Chinese retailer's first int'l acquisition
Last Updated(Beijing Time):2005-12-14 15:28

Beijing Daily reported that Beijing Hualian Group acquired Seiyu (Singapore) Private Limited for 4 million Singapore dollars (US$2.46 million) from CapitaLand, a Singaporean real estate developer, on December 3rd.

It was the first time for a Chinese retailer to set foot in international acquisition and merger.

Seiyu is one of the largest retailers of Japan. Its solely-owned subsidiary in Singapore is always profitable.

Source:Chinanews.cn 
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