cre

China Resources Enterprise confirmed it has bid for Hong Kong supermarket chain ParknShop, which is owned by Hutchison Whampoa.

China Resources Enterprise pays $42 million to buy a majority stake in Pacific Coffee from Chevalier Pacific, earning Chevalier a healthy return on its five-year investment.

Pricing on the current deal is almost half of the 68bp over Hibor that CRE Finance paid in June 2000.