Shanghai Bailian to merge retail operations
9 April 2004
Shanghai Bailian Group announced plans to merge its two department stores into one listed unit, a move that will create China's biggest department store chain. Shanghai Hualian Co will be merged into Shanghai No 1 Department Store Co to form Shanghai Brilliance Group Co, according to statements by the two companies in Chinese media. Shanghai Brilliance will have 14 department stores and three shopping malls. Chinese analysts said the merger likely indicated that Shanghai Bailian is seeking an overseas listing.
