You are here
CNA buying 10% stake in Chinese gold retailer
ENGINEERING firm CNA Group said on Thursday it is acquiring a 10 per cent stake in Chinese gold retailer Jilin Gold Group (JGG). No value was disclosed.
JGG's businesses include a gold mine; jewellery retailing and franchising; hotels; event management and media advertising agency across China, where it has over 15 retail outlets.
CNA Group CEO Michael Ong said in a statement: "This new investment into JGG will increase our recurring income stream from investment in a cash generating business, and allow us to tap into the commercial sector in China."