NEW World Department Store China Ltd, a unit of billionaire Cheng Yu-tung's New World Development Co, agreed to buy a department store and real estate from its parent for HK$885.4 million (US$113 million). New World Department Store China will buy Wuhan Department Store and a shopping mall in a complex its parent owns in the central Chinese city of Wuhan in Hubei Province, it said in a statement yesterday.
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