FAVA International Acquires 9 Retail Shops in Beijing at a Maximum Consideration of RMB35 Million

FAVA International Acquires 9 Retail Shops in Beijing at a Maximum Consideration of RMB35 Million Inline with the Group's Expansion Strategies of Retail Business to Capture Market Opportunities Arising in The PRC HONG KONG, June 10 /Xinhua-PRNewswire/ -- One of the top four largest solid wood furniture manufacturers as well as the market leader in mid- to high-end solid wood furniture segment in the PRC, FAVA International Holdings Limited ("FAVA International" or the "Group", stock code: 8108), announced the acquisition of the retail business and assets of 9 furniture retail shops in Beijing through Langfang Huari Hengyu,Home Co., Ltd ("Langfang Hengyu"), an indirect wholly owned subsidiary of the Group. Langfang Hengyu entered into an acquisition agreement with Mr. Zhou Xu En, an independent third party of the Group. The... [read full story]