BRIEF-Citychamp Watch & Jewellery unit enters into disposal agreement

March 24 (Reuters) - Citychamp Watch & Jewellery Group Ltd

:

* EB Investments, Pacific Timber and Bright Merit and

Shenzhen Kangtian have entered into a disposal agreement

* Deal for RMB1.40 billion

* Sellers agreed to sell and Shenzhen Kangtian agreed to

acquire entire equity interests of Seti Timber

* Expected that company would recognize unaudited gain on

disposal of approximately HK$1 billion from disposal

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