BRIEF-Fujian Dongbai's Unit Plans To Sell 80% Stake In Logistics Management Firm For At Least 260 MLn Yuan

Reuters

Updated 17 January 2020 at 5:02 am

Jan 17 (Reuters) - Fujian Dongbai Group Co Ltd:

* SAYS ITS INDIRECTLY-OWNED UNIT PLANS TO SELL 80% STAKE IN ITS LOGISTICS MANAGEMENT FIRM TO DC FOSHAN HOLDINGS II LIMITED FOR AT LEAST 260 MILLION YUAN ($37.91 million)

* SAYS THE BLACKSTONE GROUP INC WILL BE THE ULTIMATE CONTROLLER OF THE LOGISTICS MANAGEMENT FIRM Source text in Chinese: https://bit.ly/2tqbmGl Further company coverage: ($1 = 6.8583 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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