State Council to become actual controller of China CYTS Tours
2018/1/9 16:54:38
China CYTS Tours Holding Co. and Cachet Pharmaceutical Co. both said in a filing that the State Council will become their actual controller and that China Everbright Group will acquire some of their state-owned assets.
Central Huijin Investment Ltd. and the Ministry of Finance currently hold stakes in China Everbright Group of 56 percent and 44 percent, respectively. Central Huijin Investment has a stake of 1.8 percent in Cachet Pharmaceutical.
China Youth Travel Group and its subsidiary Zhongqing Chuangyi Investment Management Co. have 144.7 million China CYTS Tours Holding shares, accounting for a 20 percent stake. China Youth Travel Group’s actual controller will become China Everbright Group after that group’s asset acquisition, while that of China CYTS Tours Holding will be the State Council.