Chinese Food and Beverage (08272) said it agreed to acquire the entire issued share capital of Power Tool Investments Limited and sale loan at up to HK$24 million (subject to adjustment).
The target and its subsidiaries are engaged in the business of production and distribution of drinking water products. The primary product is KRYSTAL, a high quality natural alkaline water sourced from the pristine Lesser Khingan Mountains in Heilongjiang, PRC.
Chinese Food and Beverage considers the acquisition could provide an additional revenue stream to the Group by providing the high quality natural alkaline water, KRYSTAL.
Trading in shares of Chinese Food and Beverage will be resumed this morning.
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