(Yicai Global) June 30 -- Wensheng Asset Management, a Chinese investment bank for distressed companies, intends to invest CNY1.6 billion (USD239 million) to help the owner of 30-year-old juice brand Huiyuan to relist its shares in as soon as three years.

A Beijing court approved Huiyuan Food and Beverage's investment and restructuring scheme, the Shanghai-based alternative asset manager said in a recent statement. Huiyuan currently owes its creditors CNY8 billion.

Wensheng intends to help the famous beverage retailer return to China's mainland capital market in three to five years to bring returns to Huiyuan's creditors, it said.

Huiyuan delisted from the Hong Kong Stock Exchange in January 2021 after almost three years of trading suspension as the Beijing-based firm had failed to disclose its earning reports since 2018 due to liquidity issues.

The fruit juice retailer's stock price decline began after an unsuccessful takeover by US beverage giant Coca-Cola. In 2009, the Atlanta-based company offered USD2.4 billion to purchase a majority stake in the Asian rival but China's commerce ministry scrapped the deal, citing monopoly concerns.

Wensheng's fresh injection would have many takers. But some 90 percent of the CNY1.6 billion will be used to enhance Huiyuan's production and operations. A small part will be used to cover bankruptcy costs and to repay debts.

The document included important information for creditors. Huiyuan's debts below CNY1 million (USD149,428) will be repaid in one-off cash transfers. Those exceeding CNY1 million will be converted to equity.

The latest earnings data from Huiyuan are from 2017. In the first half, the company made CNY55.9 million (USD8.4 million) in net profit, up 78 percent from a year earlier, according to the report. Its revenue climbed 4 percent to CNY2.8 billion.

Wensheng, a unit of Zhejiang province-based Wenhua Holding, specializes in non-performing loan investing. The company managed as much as CNY123.2 billion (USD18.4 billion) in assets as of Dec. 31, 2021, according to its website.

Editor: Emmi Laine, Xiao Yi