<article>Engineering firm <a href="http://www.cna.com.sg/">CNA Group </a>Thursday said it had reached a deal to acquire 10 per cent stake in Chinese gold retailer Jilin Gold Group (JGG).</article>

Engineering firm <a href="http://www.cna.com.sg/">CNA Group </a>Thursday said it had reached a deal to acquire 10 per cent stake in Chinese gold retailer Jilin Gold Group (JGG).
The Singapore Mainboard listed firm did not disclose the transaction details, but said that it would ‘invest and further participate in JGG’s businesses which includes a gold mine, jewellery retailing and franchising, hotels, and events management and media advertising agency, throughout China’.
JGG is among the top gold retailers in China with over 15 outlets and expanding rapidly, with an online B2B business launching in 2015.
They are the market leader in North-East China, with a track record of profitability since 2011, CNA <a style="color: #000080;" href="http://infopub.sgx.com/FileOpen/CNA%20Media%20Release%20-%20Jilin%20Gold%20Acquisition.ashx?App=Announcement&amp;FileID=339373">said </a>in its disclosure to the Singapore Exchange.
Michael Ong, CNA’s Group CEO and President said: &#8220;This new investment into JGG will increase our recurring income stream from investment in a cash generating business, and allow us to tap into the commercial sector in China. Our strategic shift towards investment based returns means reduced operational risks as we are leveraging on JGG’s track record and existing business operations in China”
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Engineering firm CNA Group Thursday said it had reached a deal to acquire 10 per cent stake in Chinese gold retailer Jilin Gold Group (JGG)

CNA buys 10% stake in Chinese gold retailer

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CNA buys 10% stake in Chinese gold retailer

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