Ban Loong Holdings (00030) said it entered into a joint venture agreement with Yunnan Baiyao Qingyitang Industry Co., Ltd. in relation to the establishment of a joint venture company to cooperate on the market development of Yunnan Baiyao Qingyitang's products and other personal care products in Asean countries.
The JV will be owned as to 60% by Ban Loong and 40% by Yunnan Baiyao Qingyitang. The initial size of investment of the JV will be Rmb2 million.
Yunnan Baiyao Qingyitang is principally engaged in the manufacture and sale of personal care products and other household products. Yunnan Baiyao Qingyitang is a 40% owned subsidiary of Yunnan Baiyao Group Co., Ltd.. Yunnan Baiyao Group is a joint stock limited liability company established in the PRC whose A shares are listed on the Shenzhen Stock Exchange with stock code 000538.
23/02/2017 17:27
Ban Loong (00030) to form JV with Yunnan Baiyao's subsidiary
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