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CHINA VANKE Transfers 49% of Mangrove Bay Project's Income Rights, Mgmt Firm Stake to Shenzhen Metro Group, Involving RMB1.35B+
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In order to recover project funds in advance, optimize cash flow and invest in commercial office properties, the Board approved the signing of an agreement with Shenzhen Metro Group to transfer 49% of the investment income rights of the Mangrove Bay Project held by the company, as well as the future income rights of other ancillary interests, to Shenzhen Metro Group at a consideration of RMB1.292 billion, according to CHINA VANKE (02202.HK)'s announcement. At the same time, CHINA VANKE also transferred 49% equity interest in the management and operating company of the Mangrove Bay Project, Shenzhen Metro Vanke Investment Development, to Shenzhen Metro Group at a price of approx. RMB58.2472 million. AAStocks Financial News |
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