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TianYu Eco-Environment Restructures Pig Farm Deal

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TianYu Eco-Environment (SHA:603717) changed its Jiangxia Pig Farm cooperation model from equity partnership to a seven-year lease at 10 million yuan annually, down from 18 million yuan in annual profit distributions.

The move resolves litigation with partner Mu Yuansheng, which sued in March, according to a Friday filing with the Shanghai bourse.

Under the new agreement, company subsidiary Wuhan Tianqian will pay 10 million yuan in performance deposit, with rent adjustable every three years. The lease is retroactive to Jan. 1.

Shares of the pig farming company closed 1% lower Friday.

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