China Food and Beverage Company Completes Acquisition of Victoria Beverage Company Limited.NEW YORK--(BUSINESS WIRE)--June 5, 1998--China Food and Beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. Company (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CHIF), has acquired 100% of Victoria Beverage Company Limited. Victoria owns a 55% interest in the Anhui Haoduo Brewery Company, located in Szechuan Province, Peoples' Republic of China. Anhui Haoduo Brewery Company has assets of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $14.2 million with USD $8.7 million in liabilities and equity of $5.5 million, approximately. The Company's 1997 revenues and income were USD $15.5 million and USD $1.75 million respectively. China Food and Beverage Company acquired Victoria for USD $21 million by issuing a cumulative debenture carrying a five (5) year term bearing interest at the rate of 8% per annum Per annum Yearly. . Principal will be due and payable at the expiration of the five (5) year term with the interest payable on a semi-annual basis. The debenture is convertible into China Food and Beverage Company common shares at $5.00 per share. China Food and Beverage Company is a public company, which invests in and or controls food and beverage companies in the People's Republic of China This is a list of prominent companies from the People's Republic of China. See for lists of companies from other places. Please note that the list is highly incomplete and does not have thousands of companies of different sizes. and the Far East. The Company currently owns a majority interest in the Nantong Aitesi Beer Co., Ltd., Peoples' Republic of China. For further information on China Food and Beverage Company, contact James Tilton at 212/398-7833. CONTACT: China Food and Beverage Company James Tilton, 212/398-7833 |
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