Shimao Services (HKG:0873) unit Shanghai Xumaorui Enterprise Management agreed to acquire the remaining 33% equity stake it does not own in Shenzhen Shi Lu Yuan Environmental from Shenzhen Jiaxiong Investment Development for around 83.2 million yuan, a Friday bourse filing said.
Following completion, Shenzhen Shi Lu Yuan Environmental will become a wholly-owned subsidiary of the company.
The target firm engages mainly in the provision of urban and rural environmental sanitation integrated services in China.
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