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03333 EVERGRANDE
RTNominal up14.320 +0.120 (+0.845%)
Others

14/08/2020 09:51

Evergrande (03333) introduces investors to business

[ET Net News Agency, 14 August 2020] China Evergrande Group (03333) said its subsidiary
CEG Holdings (BVI) Limited has agreed to sell, and each purchaser has agreed to acquire,
all the sale shares of Mangrove 3, Ltd. (the target) at the aggregate consideration of
HK$23.5 billion. Upon completion, the target will be held as to 28.061% by the purchasers
and as to 71.939% by the group.
The strategic investment will introduce a number of renowned strategic investors to the
group's property management business, which will enhance the corporate profile and support
the growth and development of the property management business.
The target is principally engaged in the provision of (a) property management services
for residential and other properties (including commercial properties); (b) value-added
services to non-property owners; and (c) value-added services to property owners and
residents.
The purchasers include Image Frame Investment (HK) Limited (Tencent Holdings Limited is
its ultimate beneficial owner); and Well Smart Developments Limited (wholly owned by Chow
Tai Fook Nominee Limited and is ultimately controlled by the family of Dr Cheng Kar-Shun,
Henry), etc. (RC)

Remark: Real time quote last updated: 29/10/2020 12:12
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