China Communications Construction's (HKG:1800, SHA:601800) two subsidiaries, its controlling shareholder China Communications Construction Group, and a connected company agreed to sell their equity interests in China Communications Property Service to another connected party, CCCG Real Estate (SHE:000736), a Friday Hong Kong bourse filing said.
Under the agreement, the company's subsidiaries CCCC Investment and CCCC First Highway Engineering Group, its controlling shareholder China Communications Construction Group, and CCCG's subsidiary China Communications Real Estate will dispose of 15%, 24%, 10%, and 51% equity interests in the target to CCCG Real Estate, another subsidiary of CCCG, for 105.0 million yuan, 168.0 million yuan, 70.0 million yuan, and 357.0 million yuan respectively.
After the completion, the company will have no interest in the target while CCCG Real Estate will own the 100% equity interest in the target.
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