BRIEF-China Innovationpay Group says it entered into loan agreement with Youzan
April 10 China Innovationpay Group Ltd
* 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. Source text for Eikon: Further company coverage: