Redsun Properties Group (HKG:1996) agreed to sell the property right of certain parking spaces to Redsun Services Group (HKG:1971) for around 230.9 million yuan, separate Monday filings by the parties with the Hong Kong bourse said.
On the same day, a unit of Redsun Services Group agreed to acquire certain equity interests in three target firms from three units of Redsun Properties.
With the acquisition, Redsun Services aims to enhance its service offerings, recover certain outstanding receivables, and potentially realize returns from the target companies' assets.
The parking space and equity transfer agreements are subject to shareholder approval from both companies.
Redsun Properties' chairman and controlling shareholder, Zeng Huansha, also holds a 72.77% stake in Redsun Services.
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