Nanjing Red Sun eyes Ruralco

Updated 2018-01-31 13:41:04

Nanjing Red Sun has rolled out a two-step plan to acquire 60 percent of Argentina-based agriculture products producer Ruralco in a deal valued at about million, according to a statement the Chinese company sent to the Shenzhen Stock Exchange on Tuesday.

Initially, Red Sun, based in Nanjing, capital of East China's Jiangsu Province, would buy a 26.67 percent stake in Ruralco from five individual shareholders by paying million, the statement noted.

Red Sun would inject "physical products" worth million to increase its capital in Ruralco.

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