# COFCO Packaging to buy 23% stake in Wuxi Huapeng Bottle Cap

COFCO Packaging's subsidiary agreed to buy a 23% stake in Wuxi Huapeng Bottle Cap from Crown Asia Pacific for RMB 53.3987 million, raising its holding to about 84.48%.

- Type: Acquisition
- Announced: 2019-05-14
- Where: Wuxi, China
- Value: $7.74M (53.4M CNY)
- Status: announced
- Products: metal bottle caps, metal closures
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Crown Asia Pacific](https://endata.com/companies/2548.md) (partner)
- [COFCO Packaging](https://endata.com/companies/4474.md) (acquirer)
- [Wuxi Huapeng Bottle Cap](https://endata.com/companies/5017.md) (target)

## Sources

- [zhitongcaijing.com](https://www.zhitongcaijing.com/content/detail/203737.html), 2019-05-14: "中粮包装美特以代价5339.87万元人民币向皇冠亚太收购目标公司的23%股权。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.