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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. Read original article |
