<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=agrinurture" target="_blank" rel="noopener noreferrer">AgriNurture Inc</a>, a diversified agro-commercial company in the Philippines, has acquired an additional 2 per cent stake in China-based <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=fucang" target="_blank" rel="noopener noreferrer">Zongshan Fucang Trade Co Ltd (Fucang)</a> to become the firm&#8217;s majority shareholder.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=agrinurture" target="_blank" rel="noopener noreferrer">AgriNurture Inc</a>, a diversified agro-commercial company in the Philippines, has acquired an additional 2 per cent stake in China-based <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=fucang" target="_blank" rel="noopener noreferrer">Zongshan Fucang Trade Co Ltd (Fucang)</a> to become the firm&#8217;s majority shareholder.
The latest investment was made on Tuesday (July 4), following AgriNurture&#8217;s 49 per cent stake acquisition in Fucang last October 7, 2016.
AgriNurture now holds 51 per cent equity in Fucang, an agri-commodity trading company based in Zhongshan City, Guangdong Province in China.
Fucang&#8217;s commodity trading involves various investments in rural real estate development and agri platform.
AgriNurture earlier entered into an agreement with Liang Shunming, the registered owner of 41 per cent of the total registered capital of Fucang, for the acquisition of all of his rights, title and additional 2 per cent of the total registered capital of Fucang.
Fucang indirectly owns 51 per cent of Xuzhou Shengmei Century Property Co Ltd, which in turn has rural real estate development in Xuzhou, China with an appraised value of over $29.518 million (RMB200.695 million).
Through the execution of a deed of assignment, AgriNurture bought the additional 2 per cent equity for up to $602,288 (RMB4.94 million).
The Tiu-led commpany informed the Philippine Stock Exchange that the acquisition is expected to strengthen its ongoing business expansion in China.
To aid Fucang&#8217;s trading in China, AgriNurture acquired last December a 70 per cent controlling stake in Hong Kong-based trading firm Guangzhou Joyful Fairy Fruits Ltd.
AgriNurture bought the Guangzhou Joyful shares from Shunming, who owned 90 per cent of the latter firm&#8217;s total registered capital.
AgriNurture&#8217;s last trading price increased 2.30 per cent or P0.200 to close at P8.89 per share on Tuesday (July 4).
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Philippines: AgriNurture takes majority stake in China's Fucang

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Philippines: AgriNurture takes majority stake in China's Fucang

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