Asia
BDStar Navigation to Acquire Stake in Subsidiary for 75 Million Yuan
Beijing BDStar Navigation (SHE:002151) agreed to acquire an additional 5.8% of subsidiary Chip & Things (Shanghai) Technology for 75 million yuan, according to a Friday disclosure on the Shenzhen bourse.The stake will be bought from Beijing Beidou Haisong Industry Development Investment Center (Limited Partnership).The satellite navigation company's stake in the subsidiary will rise to 65.2% from 59.4% after the transaction.BDStar's shares rose 2% at the close.
SHE:002151
