Carrefour Increases Stake in Guangdong Supermarket
Supermarket giant Carrefour has said it will increase its stake in
Guangzhou Jiaguang Supermarket, from 55 per cent to 80 per cent. The
French retailer will pay USD5.8m for the additional 25 per cent share
to Guangzhou Grandbuy Co, subject to approval from China's Ministry of
Commerce. Taiwan's largest food company, Uni-President, and Guangzhou
Wansheng hold each 10 per cent in the venture.
Lenovo Launches First Desktop Overseas
China's largest PC maker Lenovo has launched its first consumer desktop
outside of China - with the IdeaCenter K210 going on sale in the United
States. The computer will sell for USD379. The new model uses facial
recognition technology and is sold with an anti-microbial keyboard. Earlier this year, Lenovo launched its international laptop sales and entered the server business in several countries.
France Telecom Agrees Wuhan R&D Centre
France Telecom signed an agreement with Litsoft and the Wuhan Donghu
Hi-Tech Development Zone to build up an R&D centre in Wuhan's
Optics Valley, local newspapers report. The centre will focus on
customer relations and call centre management, business intelligence
and enterprise applications integration. France Telecom is the third
Fortune 500 company to set up an R&D centre close to Wuhan,
following EDS and IBM. No financial details were disclosed.
Kellogg Buys Chinese Cookie Business
U.S.-based Kellogg Co. has announced the acquisition of Zhenghang Food
Co. Ltd, a cookie and cracker producer in northern China, Reuters
reports. Financial details of the deal were not disclosed, but the
Chinese company's sales were USD50m in 2007. Kellogg has been selling
breakfast cereals in China for more than 10 years.
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