Yantai North Andre Juice (02218) said it agreed to sell the entire equity interest in Binzhou Andre Juice for Rmb84.8 million.
The Group expects to record a loss of about Rmb4.77 million from the disposal. The proceeds will be applied as the general working capital of Andre Juice.
Binzhou Andre is engaged in production of beverage (fruit juice and vegetable juice), high natural apple essence, iron packaging, biological and comprehensive utilization of pomace and other extended products. As Binzhou Andre is encountering problems such as shortage of raw materials and high production cost, the disposal enables the Group to adjust its production and operation plan and reduce its enterprise comprehensive cost.
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