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Bromat Unit to Acquire Shanghai Jinbaozheng Business Consulting; Shares Down 3%

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Bromat's (SGX:9I7) subsidiary, NSB-IP, agreed to acquire a 100% stake in Shanghai Jinbaozheng Business Consulting from Gao Sheng (HK) International for 5 yuan, according to a Thursday filing with the Singapore Exchange.

Shanghai Jinbaozheng Business Consulting owns a 100% stake in Shanghai Xinzhaopai Catering Management.

The acquisition is part of the company's strategy to pursue viable business opportunities in China.

Shares of the manager of food and beverages operator in Singapore were down over 3% in Thursday trading.

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