Only 55.8 million USD buys 23% shares of Lok Bee Net parent company

"TechWeb Report" Beijing time February 21 News, only the goods will announce today, according to with the eastern popular and some shareholders reached the equity acquisition agreement, with about 55.8 million U.S. dollars price to buy the Oriental popular 23% shares. After the transaction will be with the Oriental Fashion group to reach a full range of strategic cooperation. This is also the only product in a week with the Oriental popular second trade, last week only the goods will be announced to invest 112.5 million U.S. dollars in the eastern popular business of the network, to obtain 75% equity. Li, chairman and founder of Oriental Fashion, said: We are delighted to strengthen our relationship with the only product association. In the new online retailing era, we see great potential in our own branded cosmetics and other consumer products. By adding our goods on the platform of the only products, we will immediately acquire the consumers who will know a lot about the brand and greatly expand the sales potential of two companies. Oriental Fashion is very happy with the only product will cooperate, and will continue to develop our brand products independently.