[ET Net News Agency, 17 December 2019] China Railway Group Limited (00390) said CRCI, a
wholly-owned subsidiary of the company, entered into an equity transfer agreement and the
supplemental agreement with CMET and ICBC Investment. CMET and ICBC Investment agreed to
acquire and CRCI agreed to dispose of the 51% equity interest held by it in CRCE and the
related debts of RMB3,315 million at a consideration of approximately RMB9,316.14 million.
CRCE is a limited liability company incorporated in PRC and is the investment and
operating entity of the expressway projects open to traffic which are developed by CRCI.
CRCE invests in a total of 12 companies, 11 of which are responsible for the investment,
operation and management of 11 expressways in seven provinces (or municipalities directly
under the Central Government or autonomous regions), including Shandong, Hehan, Sichuan,
Shaanxi, Guangxi, Yunnan and Chongqing, with a total mileage of 960 kilometres. (RC)
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00390 CHINA RAILWAY
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4.090 +0.060 (+1.489%) Others
17/12/2019 14:29
China Railway (00390) to sell 51% of expressway company
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