Shanghai International Arbitration Center Accepts Yonghui Superstores's Arbitration Application

MT Newswires Live10-14

Yonghui Superstores (SHA:601933) said its application for arbitration was accepted by the Shanghai International Arbitration Center for the payment of fees totaling 3.86 billion yuan.

The application requested for a ruling that Dalian Yujin Trading pay the supermarket chain 3.64 billion yuan for the remaining share transfer price, 218.3 million yuan in accelerated liquidated damages, and 2.0 million yuan in attorney fees, according to a Monday filing with the Shanghai bourse.

The arbitration was related to Dalian Yujin Trading's non-settlement of its remaining payment for the acquisition of a stake in Dalian Wanda Commercial Management Group.

Yonghui Superstores shares rose 2% in recent trade.

Price (RMB): Â¥2.96, Change: Â¥+0.050, Percent Change: +1.72%

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