Yuexiu Property's (HKG:0123) subsidiaries Kingwongs Investment and Guangzhou Huazhen Technology Service agreed to dispose of the entire equity interest of Guangzhou Grandcity Development to Guangzhou Renyao Economic Information Consultancy for 1.09 billion yuan.
The transaction also involves the transfer of certain properties held by the target company, such as office space and car parks at the Guangzhou International Commercial Center in Tianhe District, Guangzhou, a Wednesday Hong Kong bourse filing said.
The purchaser won the tender for the disposal of the target company on GuangDong United Assets and Equity Exchange. The purchaser is a subsidiary of CITIC Securities (HKG:6030, SHA:600030).
CITIC Securities has also appointed Guangzhou Yuexiu Commercial Properties Operation Management to provide operational and management services for the properties for a management fee.
The group expects to gain 876.0 million yuan from the disposal and plans to use the proceeds to develop its core business operations.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。