China Wood International Holding Co. Ltd. has announced it is negotiating to acquire a 30% to 40% equity interest in an independent provider company for a consideration of HK$18 to HK$22 million. The company plans to fund the possible acquisition through a combination of up to HK$16.27 million raised by placing new shares under a general mandate and internal resources. If the acquisition proceeds, China Wood International will be able to nominate up to two directors to the provider's five-member board and will account for the investment as an associate using the equity method. If the acquisition does not proceed, the company will use the funds for the development of its food and beverage business and existing R&D projects.