Listed fruits and vegetables firm AgriNurture Inc. has acquired a 70-percent stake in a fruit trading company in China for 700,000 yuan (Php5.06 million) to expand business in the huge market.
AgriNurture told the local bourse Zongshan Fucang Trade Co. Ltd. (Fucang) bought on Thursday interest in Guangzhou Joyful Fairy Fruits Ltd. from businessman Liang Shunming.
Liang Shunming is the registered owner of 90 percent of the total registered capital of Joyful Fairy Fruits Ltd.
In October this year, AgriNurture acquired a 49-percent stake in Fucang for USD 6.3 million.
Source: Philippines News Agency