Changbai Mountain Tourism to Set Up 40 Million Yuan Joint Venture With Parent

MT Newswires Live08-08

Changbai Mountain Tourism (SHA:603099) agreed to establish a 40 million yuan joint venture with controlling shareholder Jilin Changbai Mountain Development and Construction (Group), according to the company's disclosure on the Shanghai Stock Exchange.

The venture, to be named Enduri Catering Management, will be a catering services provider, the Thursday disclosure added.

The Chinese travel services provider and Jilin Changbai will inject into the venture 20.4 million yuan and 19.6 million yuan respectively, owning 51% and 49% of the venture's capital.

Shares of the company rose less than 2% at the close.

Price (RMB): Â¥23.34, Change: Â¥+0.41, Percent Change: +1.79%

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