Caissa Tosun Development to Acquire 51% Stake in CITS Fujian

MT Newswires Live07-21

Caissa Tosun Development (SHE:000796) will acquire a 51% stake in CITS Fujian for 16.8 million yuan.

The deal expands the company's footprint in Fujian's tourism market via CITS Fujian's more than 260 retail outlets, according to a filing with the Shenzhen bourse.

The deal includes a cumulative 16.5-million-yuan profit guarantee from 2025 to 2027.

Shares of the tourism services provider rose 2% in recent trade.

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