Future World Holdings' (HKG:0572) unit Future Group Investment Holdings conditionally agreed to acquire a property in Hong Kong from its substantial shareholder, Lai Long Wai, for HK$88.0 million, a Monday Hong Kong bourse filing said.
The property is a residential unit with a gross floor area of 2,593 square feet and is located at Flat B, 28th Floor, Broadview Villa, No.20 Broadwood Road, Hong Kong.
The company also agreed to assign certain of its overdue receivables at their carrying amount of HK$23.4 million to the purchaser.
The assignment will be used to offset certain parts of the consideration for the acquisition.
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