Brief: China Innovationpay Group says it entered into loan agreement with Youzan

Youzan Technology

10/04/2017 24:43

April 10 (Reuters) - China Innovationpay Group Ltd  8083.HK  
    * Beijing Gaohuitong and Hangzhou Youzan entered into third 
party payment services framework agreement 
    * Deal pursuant to which company has conditionally agreed to 
grant to youzan an unsecured loan facility up to hk$200 million 
    * Company entered into loan agreement with youzan 
    * Directors intended proceeds from loan to support business 
plan and development of Youzan upon completion of acquisition. 
 
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