Australia's eCargo Holdings hits 7-wk high on deal to buy stake in Metcash's China business

eCargo Holdings

08/11/2018 23:54

** Shares of Hong Kong-based e-commerce firm eCargo Holdings
 ECG.AX  rise as much as 11.1 pct to A$0.150, their highest
level since Sept. 20
    ** Company signs an agreement with Metcash Trading Ltd, a
unit of Australian wholesaler Metcash Ltd  MTS.AX , to acquire
85 pct of Metcash's China business  urn:newsml:reuters.com:*:nASX712vCQ
    ** Deal expected to be completed by end of February 2019
    ** ECG stock up about 85 this year, as of last close 

($1 = 1.3770 Australian dollars)

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