The joint ventures will run Wu Pao Chun bakeries in Beijing, Shanghai, Shenzhen and Guangzhou.
According to Nikkei Asian Review, Shanghai Star will hold 80% of the Shanghai joint venture and can own up to 40% of the Beijing, Shenzhen and Guangzhou joint ventures. Both companies expect to conclude joint ventures for Singapore and Hong Kong later.
The deal isn't expected to have any material effect on the earnings per share and net tangible assets of BreadTalk for the financial year ending Dec. 31. The filing didn't disclose further financial details.
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