Yuexiu Transport Infrastructure's (HKG:1052) subsidiary Choice Tone agreed to sell its 60% equity interests in Tianjin Jinfu Expressway to Tianjin Expressway Group for 190.8 million yuan, a Wednesday Hong Kong bourse filing said.
The target company will cease to be a subsidiary of the company upon completion of the disposal.
The group plans to use the expected net proceeds of 189.3 million yuan for potential investments, the development of its core business operations, and the general working capital of the group.
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