Chinese booze behemoth distills a sobering reality: Kweichow Moutai's plans to sell liquor directly through a separate unit could help usurp some $6 billion of value, says cbeddor
Distiller Kweichow Moutai said on May 8 that it had received a letter from the Shanghai Stock Exchange asking for more information about a sales company created by the company’s controlling shareholder. The letter noted that investors were concerned by media reports about what related-party transactions the newly established company could have with the listed firm.
Separately, the Chinese Communist Party expelled the former chairman of Kweichow Moutai, Yuan Renguo, and he will be prosecuted for allegedly accepting large bribes and running an illegal for-profit business, according to a May 22 statement by the Central Commission for Discipline Inspection.
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