Companies / China
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CRE Expands North With Xi'an Aijia Retail Acquisition
July 2008 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Hong Kong-based consumer company China Resources Enterprises (CRE) has acquired Shanxi province hypermarket operator Xi'an Aijia. The purchase of the 11 hypermarkets will add around US$200mn to CRE's 2007 mainland retail revenues of US$1.51bn. More pertinently, however, the acquisition will significantly boost CRE's scale in the north of the