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DSN Retailing Today, April 19, 2004
SHANGHAI, CHINA. -- Leading Chinese retail company Bailian plans to merge two of the industry largest local chains to form China's largest single retailer with assets of 5.97 billion yuan, or $721.4 million. As part of the deal, which was not assigned a time frame as of early April, Hualian Co. Ltd.
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will be folded into Number One Department Store Co. Ltd. The new entity will operate 14 department stores and three shopping malls around China's financial hub.
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COPYRIGHT 2004 Gale Group
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