National Agricultural (01236) said it entered into a sale and purchase agreement to acquire 29% equity interests in Beijing Guonong Taifeng Agricultural Consultancy Co., Ltd.
Upon completion, Guonong Taifeng shall become a wholly owned subsidiary of National Agricultural.
Since its establishment, Guonong Taifeng has become National Agricultural's direct operational entity for building the agricultural trading platform and the funds management system - the Agripay. Following the gradual deepening of cooperation between National Agricultural and various agricultural cooperatives, Guonong Taifeng's integrated function in respect of online trading and capital management has become more important and prominent. As such, National Agricultural considers that it shall enhance its control of Guonong Taifeng through this acquisition.
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