CHINA YOUTH DAILY TO SELL SHARES IN JV
AsiaInfo Services, May, 2007
AsiaInfo Services 05-25-2007 China Youth Daily to Sell Shares in JV BEIJING, May 25, 2007 (SinoCast via COMTEX) -- China Youth Daily, an influential comprehensive daily newspaper in the country, plans to sell 50% of its shares in its joint venture CYMedia with Beida Jade Bird Group, a famous software company under the arm of China's prestigious Peking University. Established in March 2004 with registered capital of CNY 250 million, CYMedia is 60% and 40% owned by China Youth Daily and Beida Jade Bird Group, and it operates businesses including advertisement design and distribution, as well as sales of electronics, mechanical & electrical equipment, hardware and building materials. The joint venture is valued at CNY 236 million by professional assets evaluator...
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