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Updated: Huabao Acquires 100% of Wealthy King

Posted: July 8, 2008

According to a report from Infocast News, Huabao has agreed to purchase tobacco flavor and fragrance specialist Wealthy King Investments Ltd. for HK$870.55 million. The company's 2007 and first quarter 2008 net profits (after taxation) were HK$24.927 million and HK$34.95 million, respectively.