Renrui Human Resources Technology Holdings (HKG:6919) has finalized the sale of a 46% stake in its subsidiary, Shanghai Sirui Information Technology, to Shanghai-listed IT services firm Neusoft (SHA:600718), for 320.7 million yuan, according to a Monday filing with the Hong Kong bourse.
Neusoft will pay the first installment of 128.3 million yuan, representing 40% of the total purchase price, within five business days of the payment clause's effective date.
The remaining 192.4 million yuan, the remaining 60%, will be transferred within five business days after the registration process is finalized.
Upon completion, Shanghai Sirui will no longer be part of Renrui's financials.
The deal is subject to shareholder approval.
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